Chinese factory activity likely expanded at a slower pace in June, hit by a resurgence of COVID-19 cases in the major export province of Guangdong, a Reuters poll showed on Monday, though quick containment indicates economic disruption is easing.
The official manufacturing Purchasing Manager's Index is likely to ease to 50.8 in June from 51 in May, showed the median forecast of 32 economists polled by Reuters. A reading above 50 indicates expansion in activity on a monthly basis."The key drag would be COVID disruption on Shenzhen ports, accounting for about 7per cent of national exports, which has led to slower container throughput growth," said analysts at Morgan Stanley in a note to clients.
More than 150 novel coronavirus cases have been reported in Guangdong province, a manufacturing and exporting hub in southern China, since the latest wave of cases struck in late May, prompting local governments to step up prevention and control efforts that have curbed port processing capacity. Chinese officials have said they would curb any unreasonable increases in commodity prices. The state planner has launched investigations into the coal, iron ore and fertiliser markets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore reports third COVID-19 fatality in June, an 84-year-old womanSINGAPORE: An 84-year-old Singaporean woman died on Saturday (Jun 26) from complications due to COVID-19, the third such fatality in Singapore in ... 哇，一个月内死了三个人。
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Stuff To Watch This Week (June 28-July 4, 2021)
Source: TODAYonline - 🏆 1. / 99 Read more »
BOJ's climate scheme must be made 'flexible' - June summary of opinionThe Bank of Japan's scheme to boost funding for steps to combat climate change must be a 'flexible' one as the rules and environment surrounding ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
BOJ was confident in June meeting of recovery as vaccination proceedsTOKYO: Bank of Japan policymakers hoped that accelerating coronavirus vaccinations would prop up the economy, but saw any inflationary pressures ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tesla to 'recall' over 285,000 cars in China due to faulty softwareElectric car giant Tesla will 'recall' over 285,000 cars from the Chinese market after an investigation found issues with its assisted driving software that could cause road collisions, a government regulator announced late Friday.
Source: YahooSG - 🏆 3. / 71 Read more »
Tesla 'recalls' vehicles in China for online software updateChinese regulators said on Saturday Tesla Inc would 'recall' nearly 300,000 China-made and imported Model 3 and Model Y cars for an online software update related to assisted driving, with owners not required to return their vehicles. The State Administration for Market Regulation said on its website that the move is linked to an assisted driving function in the electric cars, which can currently be activated by drivers accidentally, causing sudden acceleration. The remote online software 'recall' - a first for Tesla cars built in China - covers 249,855 China-made Model 3 and Model Y cars, and 35,665 imported Model 3 sedans. for an online software update related to assisted driving, with owners not required to return their vehicles. Best Press ever
Source: YahooSG - 🏆 3. / 71 Read more »