China Caixin PMI tips suddenly back into expansion

China Caixin PMI tips suddenly back into expansion

In June, Caixin's China manufacturing PMI surpassed expectations, giving hope that the world's number two economy continues defying fears of a slowdown.

The private survey offered 50.4, thus marking a three-month peak. Well, it leapt from May's result of 49.6 that appeared to be an 11-month minimum and outclassed a Reuters survey forecast for 49.5.

Levels above 50 point to expansion, while levels below 50 traditionally stand for contraction.

The Caixin PMI usually focuses on smaller companies, while the official data deals with larger ones, in particular state-owned companies.

The soar was bolstered by stronger leaps in production as well as new orders. As for the June Caixin PMI, it didn’t happen to be all positive, especially considering that the publication telling the optimism toward the business outlook hit its lowest value this year.

However, the improved data provided confirmation of the official PMI figures, issued on Friday that showed that in June manufacturing activity stepped up more than expected.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera