Official China PMI climbed to 51 in June, in line with expectations.
This is up modestly from 50.8 in May. A reading above 50 indicates expansion.
Beijing announced a mini-stimulus following weak economic data at the start of the year and the People’s Bank of China announced targeted reserve requirement ratio (RRR) cuts.
This is expected to have improved business sentiment.
A look at sub-indices of the June PMI report showed improvement across the board:
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