Reuters: High-tech products drive China's manufacturing exports in June
Reuters (Japanese edition), June 30 report: China's manufacturing Purchasing Managers' Index (PMI) for June stood at 50.3, up from 50.0 in the previous month.
Exports of high-tech manufacturing, driven by the AI boom, remain robust. Meanwhile, shipments of other goods are relatively weak, and domestic consumer demand has not yet fully recovered. The manufacturing PMI exceeded Reuters' median forecast (50.1).
The non-manufacturing PMI, which includes services and construction, rose from 50.1 in May to 50.2, while the composite PMI increased from 50.5 last month to 50.6.
The real estate market, employment, and personal consumption continue to affect economic growth, while global demand for industrial products has become the main engine driving China's economy. Strong global demand for data centers and advanced electronic semiconductors highlights the strength of China's manufacturing sector.
However, demand in other sectors remains in recovery. According to trade statistics from May, exports of automated data processing equipment surged 60% year-on-year, while furniture sales grew only 1.9%. In the domestic consumer market, retail sales declined for the first time in May, marking the first such drop in over three years, and the pace of new home price declines accelerated.
Signs of a June export surge have reappeared. Exporters say they have accelerated shipments to the United States to respond to new tariffs under Section 301 of the Trade Act, set to take effect at the end of July.
Original source: toutiao.com/article/1869390060968968/
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