Chinese Manufacturing Activity Hits 3-Month High

The Caixin China manufacturing purchasing manufacturers’ index (PMI) for June beat expectations, offering another signal that the world’s second-largest economy continues to defy expectations for a slowdown.

The private survey came in at 50.4, marking a three-month high. It was up from May’s 49.6, which was an 11-month low, and beat a Reuters poll forecast for 49.5.

Levels above 50 signal an expansion, while levels below 50 indicate contraction.

The Caixin PMI tends to focus on smaller, private companies, while the official data tends to focus on larger, often state-owned companies.

CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.