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China Economic Update: Purchasing Managers’ Index

The China Federation of Logistics & Planning reported that China’s official Manufacturing PMI came in at 50.2 in June.

The reading was slightly ahead of the FactSet forecast for 50.1, which was below the 50.4 reading seen in May.

Since the reading was above the all important 50 mark, the indication is that the manufacturing sector is still in an expansionary mode.

Some analysts expressed concern that the Chinese government has been unable to get growth back on track in the world’s second largest economy. In addition, this report would seem to suggest that the chances for further stimulative measures have now increased.

For comparison purposes:

• May: 50.4
  
• April: 53.3
  
• March: 53.1
  
• February: 51.0
  
• January: 50.5
  
• December: 50.3
  
• November: 49.0
  
• October: 50.4
  
• September: 51.2
  
• August: 50.9

Readings above 50 indicate the sector is expanding while readings below 50 are indicative of contraction.

Separately, HSBC's June manufacturing PMI was reported at 48.2, which was a tenth above the "flash" reading but below the 48.4 reading seein in May.

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