China’s factory, service sectors expand amid recovery
The Straits Times|July 01, 2022
China’s factory and service sectors snapped three months of activity decline in June, business surveys showed yesterday, as the authorities lifted a strict Covid-19 lockdown in Shanghai, reviving output and consumer spending.
China’s factory, service sectors expand amid recovery

BEIJING • The official manufacturing purchasing managers’ index rose to 50.2 last month from 49.6 in May, the National Bureau of Statistics (NBS) said. That slightly missed the forecast for 50.5 in a Reuters poll but rose above the 50-point mark that separates contraction from growth for the first time since February.

Though activity in China is gaining momentum after lengthy Covid-19 lockdowns in April and May, headwinds, including a still subdued property market, soft consumer spending and fear of any recurring waves of infections, persist.

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