China factory activity shrinks again in warning to economy

Quick Summary:

The official manufacturing purchasing manager index was at 49.5, the National Bureau of Statistics said June 30.

In a statement accompanying the data, NBS analyst Zhao Qinghe cautioned that “the foundation for sustained recovery and improvement still needs to be consolidated.

The continued contraction in the factory sector poses a threat to the country’s economic growth target of around 5 per cent in 2024.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Sub-index Orders Factories Export Inched Reading Lower 2024 China’s Economy Demand

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 15:59:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 462 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 21422067

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