Official PMI in China suggests sustained recovery
The official Purchasing Managers’ Indices in China, published by the National Bureau of Statistics, suggest that the economic activity keeps recovering. The manufacturing PMI inched up to 50.9 in June compared to 50.6 in May, signalling that the companies in the sector expanded their operations. Each figure above 50 indicates expansion, and each figure below 50 – contraction.
Non-manufacturing PMI reported higher figures in June, with the indicator climbing up to 54.4 from 53.6 in May. China’s economy faced the COVID-19 pandemic in January and February and subsequently had to cope with the negative economic impact of the outbreak and the measures to contain it. Consequently, in February the economic activity plummeted and both PMIs dived deep into contraction territory.
Detailed data and analysis on Covid-19 and its economic impact can be found in CEIC’s Further indicators on China’s Economy can be found in the CEIC .