The official gauge of China’s manufacturing activity improved in June but indicated a contraction for the third-straight month, suggesting continued weakness in the world’s second-largest economy.
China’s official manufacturing purchasing managers’ index rose to 49.0 in June from 48.8 in May, the National Bureau of Statistics said Friday. A reading above 50 indicates an expansion in activity while a reading below it indicates a contraction.
The result was below the 49.1 forecast by a Wall Street Journal poll of economists.
The production subindex rose to 50.3 from 49.6 in May. The index for total new orders rose to 48.6 in June from 48.3, while new export orders slid to 46.4 in June from 47.2.
China’s nonmanufacturing PMI, which covers both service sector and construction activity, fell to 53.2 in June from 54.5 in May, the statistics bureau said.
The subindex tracking service activity declined to 52.8 in June from 53.8 in May, while the construction subindex fell to 55.7 in June from 58.2.
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