China’s manufacturing PMI slightly rises in June
Accordingly, the country’s seasonally adjusted Purchasing Managers’ Index (PMI) climbed to a reading of 50.4 in June compared with 49.6 recorded in May, which was the lowest of 11 months. Any reading below 50 indicates a contraction while any reading above 50 represents an expansion.
The data showed that the expansion in the country’s manufacturing sector was pulled down by the decreased number of staff with the producers’ aim to cut costs and inventories due to slower demand.
Meanwhile, the inflation in the country slowed down in June, according to the data.
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