Activity at China’s factories remained in contraction for the third consecutive month in June, an official survey showed on June 30, adding to questions about the economy’s outlook under additional U.S. tariffs.
The official manufacturing purchasing managers’ index (PMI), which gauges sentiment among factory owners, increased marginally, coming in at 49.7, compared to May’s reading of 49.5, according to data released by the National Bureau of Statistics of China (NBS).
A reading below the 50 mark, which separates growth from contraction, signals a deterioration in the sector.
The official PMI has remained below 50 since April, when Chinese factories recorded their sharpest monthly decline in more than a year amid simmering trade tensions with the United States….
Activity at China’s Factories Continues to Decline Amid US Tariffs
