Mainland factory activity returned to expansion in June, supported by an increase in new orders that lifted production, a private-sector survey showed on Tuesday.
The Caixin/S&P Global manufacturing PMI rose to 50.4 in June from 48.3 in May, surpassing analysts’ expectations in a Reuters poll. The 50-mark separates growth from contraction.
The reading contrasts with China’s official PMI on Monday that showed factory activity shrank for a third straight month. But new export orders in both surveys remained in negative terrain in June, suggesting potential challenges for exports in the second half of the year. (Reuters)
