China's manufacturing PMI remains flat in June

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Employees work in an electric motor company in Ningde, Fujian Province, China, April 16, 2024. /CFP

China's manufacturing purchasing managers' index (PMI) came in at 49.5 in June 2024, unchanged from May, data from the National Bureau of Statistics (NBS) showed on Sunday.

"From the perspective of output, China's economy is maintaining expansion, but the continuous recovery momentum still needs to be consolidated," said Zhao Qinghe, an NBS statistician.

The sub-index for production stood at 50.6, while that for business expectations came in at 54.4, according to the NBS.

Market demand remained insufficient, said Zhao, citing the new orders index, which came in at 49.5 in June, a slight decline from the level recorded in May.

China's PMI for the non-manufacturing sector, a gauge of sentiment in the service and construction sectors, came in at 50.5 in June, down from 51.1 in May, indicating continued expansion.

Both the services and construction sectors fell slightly. However, air transport, postal services, telecommunications, radio, television and satellite transmission services, monetary and financial services, and insurance services grew rapidly with activity indexes averaging 55 points or above.

(Xinhua with edits)