China's manufacturing PMI rises to 50.3 in June, driven by AI hardware and tech exports
By
Chan Ho-him
2h ago· 2 min readenNews
Summary
China's factory activity expanded in June 2024, with the official manufacturing PMI rising to 50.3 from 50 in May, beating economists' expectations. The improvement was driven by robust demand for AI hardware and tech exports. However, the sub-index for new orders climbed to 51.2, while concerns persist about China's broader economic slowdown, a prolonged property sector decline, and sluggish domestic demand. Economists note that while China's economy is regaining some momentum, it remains heavily reliant on high-tech exports and consumers remain cautious.
Source
bskyChina's manufacturing PMI rises to 50.3 in June, driven by AI hardware and tech exportsapnews.comKey quotes
· 4 pulledChina's factory activity picked up pace in June, an official survey showed Tuesday, as demand for artificial intelligence hardware made exports robust.
The official manufacturing purchasing managers index, or PMI, expanded to 50.3 from 50 in May, better than economists' expectations.
Some economists believe China's economy has been regaining momentum recently but it still heavily relies on high-tech exports.
China's consumers remain cautious after a long decline in the property sector and domestic demand is still sluggish.
China says its factory activity picked up pace in June. The survey released by the National Bureau of Statistics said the manufacturing purchasing managers index, or PMI, expanded to 50.3 in June from 50 in May. That's better than had been expected despit
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