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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