China's manufacturing sector held steady in June, with the Purchasing Managers' Index (PMI) staying flat at 49.5 📊, same as in May, according to data from the National Bureau of Statistics (NBS) released on Sunday.
Zhao Qinghe, a statistician from the NBS, commented, \"From the perspective of output, China's economy is maintaining expansion, but the continuous recovery momentum still needs to be consolidated.\"
The production sub-index reached 50.6 💪, signaling growth, while business expectations stood strong at 54.4 🌟. However, market demand showed signs of softening, with the new orders index dipping slightly to 49.5 👀, a bit lower than May's figure.
On the flip side, the non-manufacturing sector, which includes services and construction, continued expanding, registering a PMI of 50.5 🏗️ in June, down from 51.1 in May.
Despite slight declines in services and construction, some sectors were on fire! 🔥 Air transport ✈️, postal services 📮, telecommunications 📱, media 📺, finance 💰, and insurance services 📋 all saw rapid growth, boasting activity indexes of 55 points or higher.
So, while some areas are catching their breath, others are sprinting ahead! 🏃♂️ China's diverse economy continues to navigate its recovery journey.
Reference(s):
cgtn.com
