A private gauge of China's manufacturing activity rose to a six-month high in June, boosted by increased domestic demand despite weakening new export orders.
The Caixin China manufacturing purchasing managers index, which is tilted toward small, private manufacturers, climbed to 51.2 in June from 50.7 in May, Caixin Media Co. and research firm Markit said Wednesday.
June's reading indicated a month-on-month expansion in activity, as it came in above the 50 mark separating contraction from expansion.
The improvement indicates that stronger domestic demand predominantly boosted sales, while the new export orders continued to fall, Caixin said, adding that employment also remained on a downward trend.
China's official manufacturing PMI, which is focused more on large, state-owned companies, edged up to a three-month high of 50.9 in June from 50.6 in May, data released by the National Bureau of Statistics showed Tuesday. The official survey of manufacturers has a much larger sample than the private survey.
Source Market Watch