Official Data: China’s manufacturing activities rebounded in June

China’s manufacturing activities recovered in June, marking the first expansionary month since February 2022 as the government lifted most of the COVID-19 containment measures in Shanghai and Beijing, official data from the National Bureau of Statistics showed.

The official manufacturing purchasing managers' index (PMI) climbed to 50.2 from 49.6 in May. 

While the manufacturing sector has recovered in June, about 49.3% of companies continue to report insufficient new orders as a result of ‘subdued property market, soft consumer spending and recurring waves of infection.’ 

The non-manufacturing PMI rose to 54.7 in June from 47.8 the previous month, signalling a strong recovery of the service sector. 

An index for the construction sector improved to 56.6 from 52.2.