China Factory Activity Shrinks Again in Warning to Economy
- Trade tensions add to challenges facing economic growth
- Construction index drops to its lowest in nearly a year
WATCH: The latest PMI figures shows China’s economy is slowing broadly, says Jacqueline Rong of BNP Paribas.
Source: BloombergThis article is for subscribers only.
China’s factory activity contracted for a second straight month in June, signaling weakness in an area that Beijing is betting on to drive the economy.
The official manufacturing purchasing manager index was at 49.5, the National Bureau of Statistics said Sunday. That was the same reading as May, and in line with economists’ prediction in a Bloomberg survey. Any number above 50 points to an expansion.