Date
18 December 2017
Factory activity grew on the mainland in June for the first time in six months, according to an HSBC survey. Photo: Bloomberg
Factory activity grew on the mainland in June for the first time in six months, according to an HSBC survey. Photo: Bloomberg

Flash PMI puts China factories back in growth territory

Factory activity got a boost on the mainland in June, growing for the first time in six months amid new orders, Reuters reported Monday, citing a preliminary HSBC survey. 

The HSBC/Markit Flash China Manufacturing Purchasing Managers’ Index rose more than expected to 50.8 in June from May’s final reading of 49.4, the report said. A reading above 50 indicates growth.

The reading suggests the country’s economy is stabilizing and recovering from a soft patch, the report said.

“This month’s improvement is consistent with data suggesting that the authorities’ mini-stimulus is filtering through to the real economy,” Qu Hongbin, chief economist for China at HSBC, was quoted as saying.

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