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A private survey shows China’s manufacturing activity beat expectations in June

A private survey shows China's manufacturing activity beat expectations in June
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People work in a factory of optical fiber in Suixi in central China’s Anhui province Tuesday, June 23, 2020.

Feature China | Barcroft Media | Getty Images

Results of a private survey released on Wednesday showed China’s manufacturing activity expanded and beat expectations in June.

The Caixin/Markit manufacturing Purchasing Manager’s Index came in at 51.2. Economists polled by Reuters were expecting 50.5, as compared to 50.7 in May.

PMI readings above 50 indicate expansion, while those below that level signal contraction. PMI readings are sequential.

China on Tuesday said manufacturing activity expanded in June with the official PMI coming in at 50.9, but the country’s statistics bureau cautioned against headwinds caused by the economic fallout from the coronavirus pandemic.

The private survey features a bigger mix of small- and medium-sized firms. In comparison, the official PMI survey typically polls a large proportion of big businesses and state-owned companies.

This is breaking news. Please check back for updates.

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