June Manufacturing PMI Stands at 50.3%

Data released by the Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing show that the Manufacturing Purchasing Managers’ Index (PMI) for June stood at 50.3%, up 0.3 percentage points from the previous month, marking the fourth consecutive month it has remained at or above the 50% level. The average Manufacturing PMI for the second quarter was 50.2%, marking a return to the expansionary range after five consecutive quarters of averaging in the contractionary range, with the positive trend showing signs of strengthening.

Both domestic and international demand in the manufacturing sector have increased, with enterprises accelerating their expansion amid stable production. Looking at the sub-indices, the New Orders Index for June stood at 51.2%, up 1.3 percentage points from the previous month; the New Export Orders Index was 50.1%, up 1.5 percentage points from the previous month, returning to the expansionary range; and the Manufacturing Production Index was 51.4%, up 0.2 percentage points from the previous month.

The industrial structure continued to improve. In June, the PMI for the equipment manufacturing sector stood at 52.5%, up 0.4 percentage points from the previous month; the PMI for the high-tech manufacturing sector stood at 53.5%, up 0.6 percentage points from the previous month.