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PMI Report on China Manufacturing

PMI rises to 51.7 in June

Output, New Orders, New Export Orders, Purchases of Inputs, Imports, Expanding. Stocks of Finished Goods, Stocks of Major Inputs, Backlogs of Orders, Contracting. Input Prices, Rising Ex-factory Prices, Falling Suppliers’ Delivery, Slower. Business Expectations, Optimistic

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China’s manufacturing PMI rose by 0.5 pts from the previous month to 51.7 in June, close to its recent peak of 51.8 in March. The PMI in June indicates a reacceleration in the growth in the manufacturing sector in China.

10 of the 13 sub-indices were higher than their respective levels in the previous month. The output index went up from 53.4 in May to 54.4 in June, showing that the output growth has quickened. Meanwhile, the new orders index and the new export orders index gained 0.8 pts and 1.3 pts respectively in June, indicating an improvement in both domestic and export demand. Meanwhile, the input prices index rose above the neutral level of 50, registering 50.4 in June. The prices of production inputs have rebounded lately.

By size of enterprises, the PMI of ‘large enterprises’ came in at 52.7 in June, up from 51.2 in May. The PMI of ‘medium enterprises’ went down to 50.5 in June from 51.3 in May, while the PMI of ‘small enterprises’ fell to 50.1 in June from 51.0 in May.

The output index was 54.4 in June, up from 53.4 in May. The output index of ‘large enterprises’ climbed to 56.2 in June from 53.3 in May; the output index of ‘medium enterprises’ was 52.7 in June, down from 54.3 in May; the output index of ‘small enterprises’ dropped to 50.4 in June from 52.3 in May.

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Content provided by Fung Business Intelligence
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