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China June Official PMI Seen Dropping to Four-Month Low

Posted by Chris Advincula on Jun 27, 2016 6:21:46 AM


(Jun 27 Reuters) Growth in China's manufacturing sector likely stalled in June, a Reuters poll showed, adding to expectations that Beijing will have to roll out more stimulus to boost the sluggish economy.

The official manufacturing Purchasing Managers' Index (PMI) is expected to have slipped to a four-month low of 50.0 in June from 50.1 in May, according to the medium forecast of 32 analysts polled by Reuters.

That would fall right on the 50.0 mark that separates expansion in activity from contraction on a monthly basis.

China's manufacturing activity had expanded for three consecutive months from March to May, after seven months of prolonged contraction, fueling hopes that government attempts to stimulate the economy were gaining traction.

More recent data, however, has shown that growth remains fragile, and the tepid forecast for June's activity reflects worries that momentum in the world's second-largest economy has continued to slow.

Click on the link below to see the full story from Reuters: (by Meng Meng and Nicholas Heath, Editing by Kim Coghill)

China June official PMI seen dropping to four-month low



Topics: Asian market, China Economy, China Manufacturing PMI


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