News Brief

Factory Activity In China Remains In Contraction, Non-Manufacturing PMI Also Down From May

Nishtha Anushree

Jun 30, 2024, 11:28 AM | Updated 11:28 AM IST

Inside one of BYD's EV making factories in China. Image Source: China Daily
Inside one of BYD's EV making factories in China. Image Source: China Daily

June was the second consecutive month when factory activity in China remained in contraction as the purchasing managers’ index (PMI) stood at 49.5. PMI less than 50 shows contraction.

The June PMI is the same as that of May. The new manufacturing export order subindex also remained constant at 48.3 in June. This poses challenges to China ahead of next month’s key third plenum.

Top Communist Party officials are set to gather in Beijing in another two weeks to discuss major economic strategies for the next five to 10 years, South China Morning Post reported.

The non-manufacturing PMI, which still shows expansion, also came down to 50.5 in June from 51.1 in May. However, it remained in expansion territory for the sixth consecutive month.

Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.


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