China: PMI stabilizes in June
July 1, 2015
The Purchasing Managers’ Index (PMI) was stable in June at the previous month’s 50.2%, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP), which publish the index. As a result, the PMI remains slightly above the 50%-threshold that separates contraction from expansion in the manufacturing sector for the fourth consecutive month. The print undershot the 50.4% that market analysts had expected.
June’s reading reflected an increase in inventories that was offset by lower readings for new orders, the supplier delivery times category and, to a lesser extent, job conditions. The all-important output sub-index was stable in June. The input prices—a reliable leading indicator for consumer prices—hit a three-month low in June, thereby remaining firmly entrenched below the 50%-threshold.