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China’s June PMI edges up, shows signs of stabilizing

by ChemOrbis Editorial Team -
  • 23/06/2015 (10:34)
According to a preliminary purchasing managers’ index compiled by HSBC and Markit Economics, a gauge of China’s manufacturing expanded to a reading of 49.6 in June following a final reading of 49.2 in May. The June PMI hit the highest level in three months although it remained below 50, indicating another month of contraction.

The index also showed that new orders increased to a reading of 50.3 while new exports declined at a slower pace in June. The increase in new orders was attributed to the slower rate of decline in new exports. Some analysts commented that China’s manufacturing sector started to show signs of stabilizing following several stimulus measures taken by the government in an effort to boost the slowing economy. However, other analysts stated that manufacturers are still continuing to lay off workers and that further measures may be required in order to accelerate growth and boost job creation.
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