An employee works at a steel processing production line at a factory in Hefei, Anhui province, China, on Feb. 21, 2020. (China Daily via Reuters) BEIJING—China’s factory activity declined for a third straight month in June and weakness in other sectors deepened, official surveys showed on Friday, adding pressure for authorities to do more to shore up growth as demand falters at home and abroad.
Services sector activity for June also recorded its weakest reading since the Chinese regime abandoned its strict COVID-19 curbs late last year, data from the National Bureau of Statistics (NBS) showed.
The official manufacturing purchasing managers’ index (PMI) inched up to 49.0 from 48.8 in May, staying below the 50-point mark that separates expansion from contraction and in line with forecasts.
The non-manufacturing PMI fell to 53.2 from 54.50 in May, indicating a slowdown in service sector activity and construction.The NBS’ separate services index dropped to 52.8 […]
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