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China’s Factory Output Stabilizes
Manufacturing activity in China has now lagged the previous month's pace for since March.
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Manufacturing activity in China has now lagged the previous month's pace for since March. But the shortfall has nearly disappeared, according to the HSBC Flash China Manufacturing PMI.
The purchasing managers' index, which is compiled by London-based Markit Economics, crept up to a three-month high of 49.6 in June. Any number below 50 indicates a seasonally adjusted decline from the previous month.
Markit says the data indicate output has "stabilized" as new work and purchasing activity show small gains. But the firm also says manufacturers have accelerated reductions to staff, suggesting they expect muted growth ahead.
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