BEIJING - China's factory activity expanded at a faster pace in June, beating expectations, as the economy continues to recover after the government lifted strict lockdowns and ramped up investment, but weak global demand is likely to be a drag on growth.
The official manufacturing Purchasing Manager's Index rose to a three-month high of 50.9 in June from 50.6 in May, above the 50-point mark that separates growth from contraction on a monthly basis. Analysts had expected it to slow to 50.4. "We believe the economy is still far from a full recovery and Beijing cannot afford to reverse its easing stance," Nomura analysts wrote on Monday.
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