Business
China’s factory growth in June reaches highest level in over three years to 51.8
Meghavi Singh,
Igor Kutyaev
- The Caixin China General Manufacturing PMI in June reached its highest level in over three years, slightly above market expectations to 51.8 in June 2024 from 51.7 in May, beating market forecasts of 51.2, as output growth hit a 2-year peak while new orders rose for the 11th month.
- However, the official data released over the weekend presented a less optimistic view, revealing that the manufacturing activity remained in contraction for the second straight month. Meanwhile, the services sector remained in expansion but slowed to a six-month low.
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