Chinese factory growth resumes in June
Chinese factory activity returned to expansion in June, driven primarily by the rise in exports of advanced technology related to artificial intelligence. The official Manufacturing Purchasing Managers’ Index (PMI) increased to 50.3 from 50.0 in May, surpassing economists’ expectations and growth thresholds. The services and construction sectors also saw improvements, supported by sustained international demand for semiconductors and advanced electronics. Meanwhile, May data showed a decline in retail sales and a slowdown in new home prices, as the central bank continued efforts to boost lending and stimulate domestic demand.
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