caixin china factory activity rebounds in june
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Caixin: China factory activity rebounds in June

Arab Today, arab today

Arab Today, arab today Caixin: China factory activity rebounds in June

There are growing concerns that the world's second-largest economy
Beijing - AFP

China's manufacturing activity rebounded last month as new orders and production gathered pace, independent figures showed Monday, but an analyst warned the pick up was likely to be temporary.

The indicator tallies with the government's purchasing managers' index (PMI) that also showed an improvement in factory conditions in June compared with the previous month.

But there are growing concerns that the world's second-largest economy is losing momentum as policymakers rein in lending and curb property purchases after years of debt-fuelled investment. 

The private Caixin survey of purchasing managers at hundreds of manufacturing companies showed a reading of 50.4 last month, compared with 49.6 in May.

A PMI figure above 50 indicates growth while anything below points to contraction. May's data showed the first contraction in almost a year.

New orders expanded at the fastest pace in three months, boosting production and helping lift the PMI, Caixin said in a joint statement with data compiler IHS Markit.

But relatively subdued customer demand weighed on business confidence, which fell to the lowest level this year. 

"The manufacturing sector recovered slightly in June, but based on the inventory trends and confidence around future output, the June reading was more like a temporary rebound, with an economic downtrend likely to be confirmed later," said Zhengsheng Zhong, director of macroeconomic analysis at research firm CEBM Group, which is part of Caixin.

Manufacturers seeking to cut costs and improve efficiency further reduced staff numbers in June, straining their operating capacity and leading to an increase in work backlogs, the survey showed. 

Beijing is wrestling with huge debt and excess capacity left over from massive government-backed infrastructure spending at the height of the global financial crisis, which has led to a slowdown in economic growth.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

caixin china factory activity rebounds in june caixin china factory activity rebounds in june

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

caixin china factory activity rebounds in june caixin china factory activity rebounds in june

 



GMT 06:46 2017 Wednesday ,04 October

Pope to bless icon for Holy Family Journey to Egypt

GMT 15:51 2017 Tuesday ,22 August

FVP informed on arrangements for Sudan in meetings

GMT 04:55 2016 Monday ,03 October

Alec Baldwin nails it as Trump on ‘SNL’

GMT 21:15 2017 Tuesday ,19 September

Security forces intensify their presence in Kirkuk

GMT 03:39 2017 Saturday ,30 September

Al Jawaheri economic improvement

GMT 10:29 2018 Saturday ,06 January

Siniora meets German Ambassador

GMT 06:27 2017 Tuesday ,26 December

Embassy in Russia marks National Days

GMT 19:06 2017 Thursday ,05 January

Moral policing in Maharashtra, too

GMT 11:49 2017 Wednesday ,26 April

OIC Condemns Attack on Military Base in Afghanistan

GMT 18:35 2017 Monday ,27 February

UK foreign secretary leaves Egypt

GMT 14:34 2017 Monday ,21 August

Bahrain-Malaysia ties praised

GMT 18:36 2017 Sunday ,30 July

Fayez explains impact of differences

GMT 08:54 2017 Wednesday ,17 May

New traffic rules to impact Dubai visitors

GMT 21:00 2017 Tuesday ,28 March

Immigration minister heads for Kuwait
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday