BUSINESS
China's Manufacturing Sector Returns to Growth in June, PMI Reaches 50.3
MyDigiFolio Editors
1 min read
China's factory activity expanded in June after remaining flat in May. Growth was mainly supported by high-tech exports tied to the AI sector, although broader export demand and domestic consumption stayed relatively weak.
China's manufacturing sector moved back into expansion during June, according to official survey data released on Tuesday. The improvement was supported by continued demand for high-tech manufacturing exports, particularly those connected to the growing artificial intelligence industry.
The official Purchasing Managers' Index (PMI) increased to 50.3 in June from 50.0 in May. The reading was above the 50-point threshold that separates expansion from contraction and also exceeded the median forecast of 50.1 in a Reuters survey. Despite the improvement, exports across several other product categories remained soft, while domestic demand continued to show limited strength.
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