BEIJING, July 1 ― China's factory activity grew at a faster clip in June after the government lifted coronavirus lockdown measures and ramped up support steps, but the health crisis continues to pressure exports and jobs, a private business survey showed today. The Caixin/Markit Manufacturing...
Wednesday, 01 Jul 2020 10:51 AM MYT
The Caixin/Markit Manufacturing Purchasing Managers' Index rose to 51.2 last month, the fastest pace of growth since December, and up from May's 50.7. The 50-mark separates growth from contraction on a monthly basis.China's economy is gradually emerging from a sharp 6.8 per cent contraction in the first quarter, with much of the country reopened after weeks of disruptions early in the year due to strict lockdown measures.
Consumers have also remained cautious amid job losses and fears of a fresh wave of infections in China as a cluster emerged in Beijing last month. The government has already rolled out a raft of easing steps this year, including reserve requirement cuts and targeted lending support and tax breaks for virus-hit firms. It has also ramped up local bond issuance in the hopes of spurring infrastructure growth.
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