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BEIJING – Growth in Chinese manufacturing output slowed in June, according to a private indicator consistent with official data, showing a slight slowdown in growth in industrial activity due to trade tension between the two countries. The United States and China.
The Purchasing Managers' Index (PMI) of the Caixin Media Group in partnership with the Markit Research Institute fell to 51.0 in June from 51.1 in May.
According to the PMI methodology, numbers greater than 50 represent an expansion of the sector's activity compared to the previous month, while, below this level, this means a retraction.
The production sub-index continued to rise in June, with the growth rate reaching its highest level in four months. However, new export sales declined for the third consecutive month and remained in contraction amid the growing trade dispute between China and the United States, the statement said.
"The deterioration of exports and the weakness of employment With the destocking of companies and the low turnover of capital, the pressure on the manufacturing sector", said Zhengsheng Zhong, economist of the CEBM group, in a statement accompanying the disclosure Monday in Beijing
. released its version of the country's industrial PMI, which also declined from 51.9 in May to 51.5 in June due to slower production and weaker demand, according to the data. of the National Bureau of Statistics [19659002] The PMI Caixin / Markit index is based on data compiled from monthly questionnaire responses sent to the purchasing managers of more than 400 manufacturing companies.
With official coverage, encompbading large state-owned enterprises, the Caixin / Markit PMI more closely follows small private manufacturers
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