China's Manufacturing Rebounds and Strengthens in June

China's manufacturing sector has shown clear signs of recovery and growth in June, according to official data released on June 30. This is reflected in an increase in the number of industries returning to expansion and robust production in key sectors such as high-tech and consumer goods.

China's manufacturing Purchasing Managers' Index (PMI) rose for the second consecutive month, hitting 49.7 in June, up from 49.5 in May and 49 in April. While a reading below 50 still indicates contraction, this consistent upward trend suggests a notable improvement.

A particularly promising sign is that 11 out of 21 surveyed industries reported expansion in June, a significant jump from just 7 in May. Leading the charge were the PMIs for equipment manufacturing (51.4), high-tech products (50.9), and consumer goods (50.4), all of which have remained in expansion territory for two straight months.

Beyond manufacturing, the country's non-manufacturing PMI also saw a slight improvement, reaching 50.5 in June, a 0.2-point increase from the previous month. This led to China's overall PMI, which combines both sectors, climbing from 50.4 to 50.7.

According to Zhao Qinghe, a statistician from the National Bureau of Statistics (NBS), the rise across all three main indices is a clear indicator that the nation's overall economic climate continued to improve during this period.