China's manufacturing PMI remains stable in June
The purchasing managers' index for China's manufacturing sector remained stable at 49.4 in June, flat with that in May, the National Bureau of Statistics said Sunday.
A reading above 50 indicates expansion, while a reading below reflects contraction.
The sub-index for production, a major factor used in calculating PMI, edged down 0.4 points to 51.3 in June, while the sub-index for new orders went down to 49.6.
"Still, production continued expansion on the whole and industry upgrades proceeded," NBS senior statistician Zhao Qinghe said. "Among the 21 sectors surveyed, 13 posted readings of expanding production."
The production sub-index for high-tech manufacturing, equipment manufacturing and consumer goods industries posted monthly increases, Zhao said when elaborating on the economic indicator.
Market sentiment remains stable as sub-indices for business expectation stood at 53.4 in June, he said.
Sunday's data also showed that China's non-manufacturing sector remained steady in June, with a PMI reading of 54.2.