July 1, 2022
In June 2022, the Caixin China General Manufacturing PMI increased from 48.1 in May to 51.7, exceeding expectations of 50.1. The most recent figure showed a rise in manufacturing activity for the first time since February and at the fastest rate since May 2021, when COVID-19 lockout and control restrictions were relaxed. The output increased by the greatest in 1-and-a-half years, new orders and overseas sales resumed growth, and buying activity increased somewhat. In the meantime, employment decreased for a third consecutive month as a result of a fresh decline in work backlogs. As logistics problems subsided, delivery times decreased for the first time in two years. In the meantime, optimism reached a 4-month high as people anticipated more increases in output and demand as infections start to decline.
Source: Trading Economics
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