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China’s Caixin manufacturing PMI drops amid weak demand

The Caixin/S&P Global manufacturing sector purchasing managers survey showed that growth in manufacturing activity in China slowed in June.

Manufacturing PMI fell to 50.5 points in June from 50.9 points in May and remained above the break-even level of 50 points, continuing to point to growth.

The official manufacturing PMI rose to 49.0 in June from 48.8 in May.

Caixin senior economist Wang Zhe said: “Recent economic data has shown that China’s recovery has not yet found stable ground. Significant problems such as the lack of factors that will push growth up and weak demand remain.”

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