Official data: China’s manufacturing activities expanded at a slower pace in June

Official data from the Chinese National Bureau of Statistics showed the manufacturing output in the country expanded at 50.9 points, slightly dropped from 51 points in May as a result of the supply chains problems including the semiconductor chips shortage that started to hit some industries. 

The subindex for new export orders remained below 50 points for the second straight month, possibly due to the port congestion in the Southern region following a COVID-19 outbreak here. 

The non-manufacturing index consists of services and construction sectors fell to 53.5 in June, from 55.2 in May. 

In the meantime, the price pressure has eased substantially signaling that the government’s efforts to cool down the commodity market is working.