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Chinese Manufacturing Activity Hits 3-Month High

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The Caixin China manufacturing purchasing manufacturers’ index (PMI) for June beat expectations, offering another signal that the world’s second-largest economy continues to defy expectations for a slowdown.

The private survey came in at 50.4, marking a three-month high. It was up from May’s 49.6, which was an 11-month low, and beat a Reuters poll forecast for 49.5.

Levels above 50 signal an expansion, while levels below 50 indicate contraction.

The Caixin PMI tends to focus on smaller, private companies, while the official data tends to focus on larger, often state-owned companies.

CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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