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China’s industrial activity advances in June at fastest pace in 13 months

China’s manufacturing activity expanded in June at the strongest pace in 13 months, spurred by a strong resumption of production as the lifting of Covid-19 lockdowns sent factories racing to meet demand, a survey showed on Friday. thursday (1).

The Caixin/Markit Industry Purchasing Managers’ Index (PMI) rose to 51.7 in July from 48.1 a month earlier, also indicating the first expansion in four months.

The result was well above analysts’ expectations of 50.1. The 50 mark separates growth from contraction.

The recovery suggested in the Caixin survey, which focuses more on small, export-oriented companies in coastal regions, was more convincing compared to the official survey.

Economic activity accelerated in June as several Covid-19 lockdowns were lifted as cases of the disease fell, in addition to a series of support measures introduced by the State Council in late May to stabilize growth.

The production sub-index hit the highest level since November 2020, while new orders, boosted by the first increase in export orders in about a year, halted three months of losses and posted the biggest growth in four months.

Source: CNN Brasil

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