China’s manufacturing sector weakened sharply in June, an indication that the country’s growth slowdown has deepened as the government has refrained from stimulating the sluggish economy.
The official purchasing managers’ index fell to 50.1 last month from 50.8 in May. It was the lowest reading in four months and just slightly above expectations.
In dipping towards the 50 line, which demarcates expansion from contraction in the PMI, the survey result means that Chinese factories have virtually stopped growing, weighed down by lacklustre domestic demand.
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