国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Macro

China June HSBC PMI shows first expansion in six months

(Agencies) Updated: 2014-07-01 13:44

China June HSBC PMI shows first expansion in six months

An employee works at a textile factory in Jimo, Shandong province May 19, 2014. [Photo/Agencies]

Activity in China's factory sector expanded in June for the first time in six months as new orders jumped, a private survey showed on Tuesday, reinforcing signs of stabilization in the economy as the government steps up policy support.

The final reading of the HSBC/Markit purchasing managers' index (PMI) for June rose to 50.7 from May's 49.4, surging past the 50-point level that separates growth in activity from contraction for the first time since December.

The PMI was slightly weaker than the flash reading of 50.8, but was the highest since November, when it was also 50.8.

China June HSBC PMI shows first expansion in six months
China's HSBC flash PMI shows expansion in June 
The sub-index for new orders, a gauge of demand at home and abroad, hit a 15-month high of 51.8 in June. Stronger domestic demand likely accounted for the jump, as the sub-index for new export orders fell.

"The economy continues to show more signs of recovery, and this momentum will likely continue over the next few months, supported by stronger infrastructure investments," said Qu Hongbin, chief economist for China at HSBC.

"However, there are still downside risks from a slowdown in the property market, which will continue to put pressure on growth in the second half of the year. We expect both fiscal and monetary policy to remain accommodative until the recovery is sustained."

Asian shares firmed slightly on the factory activity report.

Beijing has unveiled a series of modest stimulus measures in recent months to give a lift to economic growth, which dipped to a 18-month low in the first quarter.

Such measures have included targeted reserve requirement cuts for some banks to encourage more lending, quicker fiscal disbursements and hastening construction of railways and public housing projects.

But the recovery looks patchy given a downturn in the property sector, which could spill-over into a wide range of industries, analysts say.

The HSBC/Markit survey also showed manuafacturing-sector jobs were still being shed in June, albeit at a slower pace.

The official manufacturing PMI rose to a six-month high of 51 in June from May's 50.8, the National Bureau of Statistics said earlier on Tuesday, in line with market expectations.

The official PMI is weighted more towards bigger and State-owned enterprises and tends to paint a rosier picture than the HSBC/Markit survey, which focuses more on smaller private firms.

A recent Reuters poll shows analysts expect annual GDP growth to slow to 7.3 percent in the second quarter from an 18-month low of 7.4 percent in the first quarter. They expect full-year growth of 7.3 percent in 2014, the weakest in 24 years.

The statistical bureau is due to release data on GDP growth for the second quarter on July 16, long with factory output, retail sales and investment figures.

Hot Topics

Editor's Picks
...
...
准格尔旗| 日土县| 扎鲁特旗| 新建县| 永安市| 白城市| 报价| 定西市| 施秉县| 蒲江县| 宜春市| 法库县| 甘泉县| 北流市| 镇江市| 久治县| 大冶市| 孙吴县| 黄龙县| 玉山县| 邮箱| 江安县| 临江市| 山丹县| 株洲市| 定兴县| 长宁县| 克东县| 景洪市| 霍林郭勒市| 嘉定区| 楚雄市| 永修县| 南郑县| 分宜县| 盈江县| 铜山县| 青川县| 曲阳县| 修武县| 马龙县|