China’s manufacturing PMI hits four-month low in June
The data showed that new orders index contracted in June while output index climbed to a reading of 52.5 in June from 52.3 in the previous month. The employment sub-index also declined to a reading of 47.9 from 48.2 in May.
The private Caixin Purchasing Managers’ Index also recorded the lowest level in four months. The index fell to a reading of 48.6 in June compared with 49.2 in May.
Some economists commented that the Chinese government must take further stimulus in order to boost the sluggish economy.
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