Reference News Network, July 1st: According to the website of the U.S. "Wall Street Journal," on June 30th, data released by the National Bureau of Statistics of China showed that the manufacturing purchasing managers' index (PMI) in June was 49.7%, a slight increase from 49.5% in May, and matched the forecast of 49.7% given by economists surveyed by the "Wall Street Journal."

The National Bureau of Statistics of China stated that the production index rose from 50.7% in May to 51.0% in June. The new orders index rebounded into the expansion zone (50.2%).

At the same time, the National Bureau of Statistics of China said that the non-manufacturing business activity index increased slightly from 50.3% in May to 50.5% in June. The service sector business activity index declined from 50.2% in May to 50.1% in June, while the construction sector business activity index rose from 51.0% in May to 52.8% in June.

The UK's "Financial Times" website pointed out that China's exports to the United States fell sharply in May, but overall exports, as a key engine for economic growth, still maintained growth.

The non-manufacturing business activity index in June was 50.5%, a slight increase from 50.3% in May. Among them, the construction sector business activity index was 52.8%, becoming the main driving force behind the rise in the overall index.

Wang Zichun, chief economist at Capital Economics, said: "Fiscal support policies continue to provide support for infrastructure investment, and signs of easing downward pressure on real estate construction activities have emerged."

In addition, AFP also stated that data from the National Bureau of Statistics of China showed that the key indicator measuring industrial output, the manufacturing purchasing managers' index, was 49.7%. This number is higher than 49.5% in May and slightly higher than the 49.6% estimated by analysts surveyed by Bloomberg.

Zhao Qinghe, a statistician from the National Bureau of Statistics of China, said in a statement that in June, China's "overall level of economic optimism remained in the expansion phase," and "manufacturing production activities accelerated, and market demand improved somewhat."

Wang Zichun, chief economist at Capital Economics, said that the June data "indicates that the Chinese economy has regained some momentum, thanks to the rebound in manufacturing and construction."

According to Reuters analysis, the growth in new orders, purchases, and supplier delivery times indicates that the supportive policies introduced by the Chinese government are working.

Xu Tianchen, senior economist at the Economist Intelligence Unit, said: "The improvement in data for two consecutive months is a good performance." He added: "Trade still shows signs of early shipments, but now tariffs have been reduced, and manufacturers are preparing to ship goods for the holiday season."

The new orders index rose from 49.8% to 50.2%, and the purchase index jumped from 47.6% to 50.2%, giving policymakers hope that domestic demand is beginning to recover. (Translated by Yang Ke, Tong Shiqun, Tu Qi, Pan Xiaoyan)

On June 18th, staff worked in the final assembly workshop of the Beijing intelligent manufacturing base of Li Auto. (Xinhua News Agency)

Original article: https://www.toutiao.com/article/7521935347199164963/

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