China manufacturing activity grows more than expected in June- Caixin PMI

Investing.com-- Chinese manufacturing activity grew more than expected in June, private purchasing managers index data showed on Monday, indicating that some aspects of the world’s second-largest economy still remained strong.rose 51.8 in June, compared to expectations for a reading of 51.5, and the prior month’s reading of 51.7.released on Sunday, which showed China’s manufacturing sector shrank for a second consecutive month in June. A reading below 50 indicates contraction.

The Caixin PMI also covers a smaller pool of Chinese businesses than the official reading. Investors usually use both surveys to get a broader picture of the Chinese economy. “The Caixin Manufacturing PMI has been in expansionary territory for eight consecutive months. Despite this, insufficient market confidence and effective demand remain key challenges,” Wang Zhe, Senior Economist at Caixin Insight Group said in a note.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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