China’s June PMI weakens slightly, due to heightened supply volatility

China’s manufacturing purchasing managers’ index (PMI) fell slightly for the third consecutive month in June due to a weak recovery in demand and tight supply of raw materials such as coal, power supply crunch, and chip shortage.

China’s manufacturing purchasing managers’ index (PMI) for June stood at 50.9 percent, sliding 0.1 percentage point from May, but remaining in the expansion territory, the National Bureau of Statistics said Wednesday.

The June data showed that the production index slid 0.8 percentage points from last month as the production of some enterprises were temporarily halted due to the tight supply of chips, coal and electricity. The manufacturing indexes of petroleum processing and auto manufacturing in particular stayed in negative territory, according to the NBS.

Source: World Trade Times