China’s manufacturing expanded in June at the fastest pace this year, adding to signs that the government’s efforts to arrest a slowdown are helping to stabilize the world’s second-biggest economy.
The Purchasing Managers’ Index (CPMINDX) was at 51.0, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing, matching analysts’ median estimate and increasing from May’s 50.8. A similar index (MXAP) from HSBC Holdings Plc and Markit Economics rose to 50.7 from the previous month’s 49.4. Numbers above 50 signal expansion.
The official subindex of new orders tied for the highest level in more than two years, giving momentum that will help protect the government’s growth target of about 7.5 percent in 2014. A slumping property market and rising bad debts threaten to sap any gains in the second half.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015