KURE - China's Caixin Manufacturing PMI eases to 50.5 less than expected
2023-07-03 01:15:55 ET
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The Caixin China General Manufacturing PMI fell to 50.5 in June 2023 from 50.9 in the prior month but above market consensus of 50.2.
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The latest print was the second straight month of growth in factory activity, with output growth slowing from May's 11-month high.
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Also, new orders rose at a softer pace while employment fell for the fourth month in a row.
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Meantime, export sales were broadly unchanged amid a further rise in buying activity.
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Finally, sentiment weakened to an 8-month low, amid worries over sluggish market conditions.
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"A slew of recent economic data suggests that China’s recovery has yet to find a stable footing," said Dr. Wang Zhe, an economist at Caixin Insight Group.
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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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On Friday, China's official Manufacturing PMI arrived at 49.0 in June as against the 48.8 contraction seen in May .
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China's Caixin Manufacturing PMI eases to 50.5 less than expected