China Caixin man­u­fac­tur­ing PMI slumps to 48.6

China Daily (Canada) - - NEWS CAPSULE -

The Caixin Gen­eral China Man­u­fac­tur­ing Pur­chas­ing Man­agers’ In­dex (PMI), an in­di­ca­tor of man­u­fac­tur­ing ac­tiv­ity, dropped to 48.6 in June from 49.2 in May, a pri­vate sur­veyshowed Fri­day.

The read­ing is be­low the neu­tral 50-point level, sig­nalling a mar­ginal de­te­ri­o­ra­tion in the­man­u­fac­tur­ing sec­tor, ac­cord­ing to the sur­vey con­ducted by fi­nan­cial in­for­ma­tion ser­vi­ce­provider Markit and spon­sored by Caixin Me­dia Co Ltd.

A read­ing above 50 in­di­cates ex­pan­sion, while a read­ing be­low 50 rep­re­sents con­trac­tion.

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