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Factory activity in China shrank for a second straight month in June, data showed Sunday, underscoring the country’s shaky economic recovery ahead of a key political gathering expected to focus on deepening reform.
Policymakers are due to convene in the capital Beijing in mid-July for a highly anticipated political gathering expected to focus on economic recovery. China’s non-manufacturing PMI – which takes activity in the services sector into account – expanded in June at 50.5, the NBS also said Sunday. NBS statistician Zhao Qinghe cautioned in a statement Sunday that while the country had “maintained overall expansion” in June, “the foundation for continuing recovery and improvement still must be consolidated”.
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