China PMI Composto

The Caixin China General Composite PMI slipped to 52.8 in June 2024 from May's one-year high of 54.1. Still, it was the eighth straight month of growth in private sector activity, with output growth accelerating in the manufacturing sector but easing for services. New orders expanded at the softest pace in four months while employment shrank across manufacturing and service sectors. On the cost side, input price inflation was unchanged from May. In the meantime, output prices moderated, attributed mainly to slower increases in service sector output charges as manufacturing selling prices rose for the first time in the year-to-date. Looking ahead, confidence weakened to a five-month low. "Policy support requires further consolidation," said Dr. Wang Zhe, senior economist at Caixin Insight Group. He added that insufficient market confidence and effective demand remain key challenges in the economy.