Caixin PMI data showed that Chinese economic growth gained momentum in June, adding to further signs that the economy is recovering from the impact of the coronavirus pandemic. Business sentiment and order book growth also improved solidly. The survey data also indicate how the recovery has been fuelled mainly by domestic demand amid a weakened global trade environment. With employment continuing to fall in June which, in turn, could dampened local consumption, further recovery may be limited, especially if external demand remains subdued.
Gradual recovery
The Caixin headline Composite PMI* for mainland China, compiled by