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China PMI comes in at 50.9 in June.
That’s a positive reading, but only just.
Based on the PMI’s, China’s recovery is steady but unspectacular. pic.twitter.com/tGU4t8PQfV
“The latest survey data suggest that economic growth accelerated in June thanks to a faster recovery in manufacturing and services, alongside continued strength in construction activity,
The recovery should remain robust in the coming months as strong infrastructure spending offsets external weakness.”
ICYMI: There were further modest signs of recovery in China this month, with the official NBS non-manufacturing PMI rising to a 7-month high of 54.4 in June, while the manufacturing PMI edged higher to 50.9 pic.twitter.com/MZoBNNUd3Q