China’s Caixin manufacturing PMI climbs to three-month high
China’s Caixin manufacturing Purchasing Managers’ Index climbed to a three-month high in June, soothing expectations the world’s second biggest economy would continue recovery in the second quarter.
The private manufacturing measure recorded 50.4 last month from 49.6 a month earlier, beating median estimates of 49.9. May’s reading was the lowest reading in 11 months.
Today’s figures showed return to growth as any above 50 means expansion and any reading below 50 means contraction.
The manufacturing sector was buoyed by a soar in output and new orders.
As of 07:34 GMT, the dollar was 0.10 percent higher versus the Chinese yuan, as the USDCNY traded at 6.7874.
China’s Shanghai Composite
Index locked 0.11 percent or 3.48 points to finish at 3,195.91.