China-Industrial activity increases for the first time in 4 months | Photo credits: atiger / Shutterstock.com
BEIJING, June 30 (Reuters) – Industrial activity in China rose for the first time in four months after authorities lifted lockdowns imposed on the city of Shanghai, official survey results show. Thursday.
According to the National Bureau of Statistics (BNS), the official manufacturing PMI came in at 50.2 in June from 49.6 in May, the first expansion in activity since February.
The threshold of 50 separates contraction and expansion of activity.
However, this figure remains below the expectations of analysts polled by Reuters, who expected a growth of 50.5.
The services sector PMI also rose in June to 54.7 from 47.8 the previous month.
The composite PMI index, which combines the activity of the two sectors, stood at 54.1 in June against 48.4 in May.
(Report Ella Cao, Stella Qiu and Ryan Woo; French version Camille Raynaud)