The latest Caixin PMI™ surveys indicated that growth momentum in the Chinese economy lost further traction, with June seeing the weakest rise in business activity for eight months.
Demand softened and employment fell during the month, with business confidence sinking to its lowest on record, calling into question if current stimulus policies are sufficient to support economic growth.
Business optimism at record low
The headline Caixin China Composite PMI Output Index (covering manufacturing and services) fell from 51.5 in May to 50.6 in June, its lowest since October 2018 and the second-lowest seen over the