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[Ferro-Alloys.com] China's factory activity expanded at a faster pace in June, beating expectations, Reuters reported Tuesday.
As per the report, China's official manufacturing purchasing managers' index (PMI) rose to a three-month high of 50.9 in June which analysts had expected to drop to 50.4 from 50.6 in May. Bloomberg, meanwhile, reported that China's non-manufacturing PMI rose to 54.4.
The 50-point mark separates expansion from contraction.
Reuters said China's economy continues to recover after the government lifted lockdowns and ramped up investment.
Bloomberg came to a similar conclusion, saying the data confirmed the trend of a gradual domestic recovery from the contraction in the first quarter and backed up the Chinese government's stance on policy stimulus.
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- [Editor:kangmingfei]
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