Chinese manufacturing activity improved slightly in June, but still remained in contraction for the fourth consecutive month.
HSBC's 'flash' manufacturing PMI for June came in at 49.6, versus expectations of 49.4 and up slightly from a reading of 49.2 in May.
A reading above 50 indicates the sector is expanding, and the June figure means Chinese manufacturing activity has shrunk for a fourth consecutive month. That is the longest losing streak since the five-month period from January to May last year. February is the only month this year in which the sector grew, with a reading of 50.7.
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