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China economy steadied further in June, as slow recovery from coronavirus continued

China’s economic activity steadied in June, with manufacturing and services both stabilising as the long way back from the coronavirus lockdowns continued.The official manufacturing purchasing managers’ index (PMI) for June stood at 50.9, with a reading above 50 suggesting growth in factory output. This was better than analysts’ expectations, with the median result of a Bloomberg survey predicting 50.5. It was slightly better than May’s reading of 50.6.The PMI is a sentiment gauge, conducted…

Read the original article at South China Morning Post

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