China's manufacturing expands for 11 consecutive months

World
Europe

China's manufacturing industry is continuing to accelerate in June, maintaining the sector's expansion for 11 consecutive months.

According to the National Bureau of Statistics (NBS) on Friday, data suggested that the official Purchasing Manager's Index (PMI) stood at 51.7 in June, up from May's 51.2.

The figure is again above the 50-point mark which indicates expansion.

Acceleration in both supply and demand, as well as the mounting external needs have contributed to strengthening the economy, said Zhao Qinghe, NBS senior statistician.

VGC photo

Sub-indexes for production and new orders stood at 54.4 and 53.1, compared to May's 53.4 and 52.3 respectively. The sub-index for new export orders also bounced back with it standing at 52, above May's 50.7.

An improved industrial structure is also behind the rising figures, said Zhao. Equipment manufacturing and high-tech manufacturing remained robust, with the sub-indexes high above the 50 point mark as well.

Indexes of pharmaceutical manufacturing, electrical machinery and equipment manufacturing, and general equipment manufacturing all exceeded 54, with a very positive development trend.

The non-manufacturing sector has also seen growth this month with the official PMI at 54.9, up from May's 54.5.

1km