KURE - China NBS factory activity continuing to contract in June
2023-06-30 01:15:38 ET
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The China official NBS Manufacturing PMI rose to 49 in June of 2023 from 48.8 in May, matching market estimates while pointing to the third straight month of contraction in factory activity.
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The latest figure came amid growing signs that China’s post-pandemic recovery lost steam, with new orders (48.6 vs 48.3 in May), buying activity (48.9 vs 49.0) and export sales (46.4 vs 47.2) all extending declines.
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On the price front, input cost fell at a softer pace despite dropping for the third month running (45.0 vs 40.8); while output charges dropped for the fourth successive month (43.9 vs 41.6).
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Finally, business sentiment remained upbeat despite hitting its lowest level in six months (53.4 vs 54.1).
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The NBS Services PMI eased to 53.2 in June, compared with 54.5 reported in May while beating expectations of 50.8.
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ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).
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Now read: China's premier says economic growth on track to reach 5% target, to be higher in Q2 .
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China's industrial output and retail sales see growth but miss estimates .
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China NBS factory activity continuing to contract in June