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BEIJING Activity in China’s services sector grew at a slower pace in June, official data showed on Wednesday as COVID-19 curbs from a resurgence in cases in Southern China restrained a rebound in consumption.
The official non-manufacturing Purchasing Managers’ Index (PMI) fell to 53.5 in June from 55.2 in May, data from the National Bureau of Statistics (NBS) showed. The 50-point mark separates growth from contraction on a monthly basis.
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Analysts say China’s economic recovery is moving in a more even direction, as the consumption and service sectors are catching up to exports and manufacturing.
China s factory activity expands at a slightly slower pace in June - official PMI Reuters 6 hrs ago
BEIJING, June 30 (Reuters) - China s factory activity expanded at a slightly slower pace in June, as high raw material costs and port disruptions in the export province of Guangdong affected business activity.
The official manufacturing Purchasing Manager s Index (PMI) eased to 50.9 in June from 51 in May, data from the National Bureau of Statistics (NBS) showed on Wednesday, remaining above the 50-point mark that separates growth from contraction.
Analysts had expected it to slip to 50.8.
The world s second-largest economy has largely recovered from disruptions caused by the pandemic, but Chinese manufacturers are grappling with new challenges from higher raw material costs to global supply chain bottlenecks.
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A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, as the country is hit by the novel coronavirus outbreak, in Hangzhou, Zhejiang province, China March 2, 2020. China Daily via REUTERS
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BEIJING, June 30 (Reuters) - China s factory activity expanded at a slightly slower pace in June, as high raw material costs and port disruptions in the export province of Guangdong affected business activity.
The official manufacturing Purchasing Manager s Index (PMI) eased to 50.9 in June from 51 in May, data from the National Bureau of Statistics (NBS) showed on Wednesday, remaining above the 50-point mark that separates growth from contraction.
BEIJING (Reuters) - Growth in China s factory activity dipped to a four-month low in June, weighed by higher raw material costs, a global shortage of semiconductors and a resurgence of COVID-19 cases in the major export province of Guangdong. The official manufacturing Purchasing Manager s Index (PMI) eased slightly to 50.9 in June versus 51.0 in May, data from the National Bureau of Statistics showed on Wednesday. It, however, exceeded analysts forecast for a slowdown to 50.8. It remained above the 50-point mark that separates growth from contraction on a monthly basis. The world s second-largest economy has largely recovered from disruptions caused by the COVID-19 pandemic, but Chinese manufacturers are grappling with new challenges from higher raw material costs to global supply chain bottlenecks.
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China manufacturing slows as supply shortages roil Asia industry Growth in China s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia.
FILE PHOTO: An employee works on the production line of electric vehicle (EV) battery manufacturer Octillion in Hefei, Anhui province, China March 30, 2021. Picture taken March 30, 2021. REUTERS/Aly Song/File Photo
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BEIJING: Growth in China s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia.