China's Manufacturing Sector Growth Slows Marginally In June
01 Julio 2018 - 9:52PM
RTTF2
China's manufacturing sector continued to expand in June but the
pace of growth slowed from May, survey data from IHS Markit showed
Monday.
The factory Purchasing Managers' Index fell marginally to 51.0
in June from 51.1 in May. The score was forecast to remain
unchanged at 51.1.
The health of the sector has strengthened in each of the past 13
months, with the latest improvement broadly in line with the
historical trend, Markit noted.
The latest PMI readings suggest that the economy lost some
momentum last month, Julian Evans-Pritchard, an economist at
Capital Economics, said. With credit growth still cooling and US
tariffs imminent, further weakness ahead is expected.
Survey data signaled a further increase in Chinese manufacturing
production, with the rate of growth edging up to a four-month high.
Nonetheless, the pace of expansion remained moderate overall.
Supporting the latest upturn in production was a sustained rise
in new business. As was the case for output, the rate of growth was
moderate and similar to those seen in the prior two months.
There was further reduction in workforce numbers in June. Lower
headcounts were due to retirements, company downsizing policies and
insufficient workloads.
On the price front, data showed that the rate of input price
inflation picked up to the sharpest in five months. As a result,
manufacturers raised their prices charged, and at the steepest rate
since last September.
Finally, goods producers in China remained optimistic that
production levels would rise over the next year. However, the level
of positive sentiment was the lowest registered for six months,
amid concerns of rising costs and stricter environmental
policies.
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