Activity in China’s manufacturing sector was static in June as growth in non-manufacturing activity accelerated thanks in part to growth from the construction sector.
The official manufacturing purchasing managers’ index published by the National Bureau of Statistics came in at 50 in June, poised atop the 50-point line delineating growth from contraction and decelerating from a reading of 50.1 in May. The latest reading was in line with a consensus forecast from economists and indicates that activity neither rose nor fell compared to the previous month.
In an explanatory note released alongside the data the bureau pinned the blame on factors including “feeble global economic growth, anticipation of a Fed interest rate raise, protectionist trade measures from the US, Europe and other countries, as well as Brexit for leading demand abroad lower.