China factory activity edges down in June on tight supplies ...Middle East

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China factory activity edges down in June on tight supplies
source : Daily Sun ( Middle East ) () 11
BEIJING: Chinese factory activity stabilised in June, data showed Wednesday, but output was hit by supply shortages of key commodities and microchips as well as the coronavirus-induced closure of a key port that caused huge delivery delays.The Purchasing Managers’ Index (PMI), a key gauge of manufacturing activity in the world’s second-largest economy, came in at 50.9 in June from May’s 51.0, the National Bureau of Statistics said.While the reading has been edging down for three straight months, it appears to be levelling out. It was also broadly in line with forecasts and continued to stay above the 50 point mark that separates growth from expansion.China’s economy is well on the recovery t

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