A private survey shows China's manufacturing activity for June was lower than expected
China's official PMI stood at 49.4 in June, contracting more than expected,China's National Bureau of Statistics on Sunday. That was unchanged from the previous month. Analysts polled by Reuters had predicted a reading of 49.5.
The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. The Caixin indicator, features a bigger mix of small- and medium-sized firms. The PMI is a survey of businesses about the operating environment. Such data offer a first glimpse into what's happening in an economy, as they are usually among the first major economic indicators released each month.
For China, the PMI is among economic indicators that investors globally watch closely for signs of trouble amid domestic headwinds and the ongoing
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