China factory activity returns to expansion riding AI global boom
High-tech exports and AI hardware demand lifted factory orders, while domestic demand stayed weak, the National Bureau of Statistics said.
- China's manufacturing purchasing managers' index rose to 50.3 in June from 50.0 in May, the National Bureau of Statistics reported Tuesday, returning to expansionary territory as demand for artificial intelligence hardware bolstered exports.
- Despite the manufacturing rebound, the $20 trillion economy grapples with sluggish domestic consumption, as retail sales fell in May for the first time in three years and new home prices continued their prolonged slump.
- Shipments of automated data processing equipment jumped 60% year-on-year, while exporters accelerated shipments to beat new United States Section 301 tariffs due in late July, said Dan Wang, China director of Eurasia Group.
- The central bank instructed commercial banks to increase lending this month to address weak credit demand, while Xu Tianchen of the Economist Intelligence Unit expects fiscal spending and monetary easing to accelerate in coming months.
- Julian Evans-Pritchard, head of China Economics at Capital Economics, warned the manufacturing sector remains heavily dependent on exports and AI-related tech, risking a slide back into deflation as the property crisis persists.
31 Articles
31 Articles
China’s factory output in June beats forecasts
China’s manufacturing activity expanded more than expected, cementing the country’s two-track economy with domestic demand still in the doldrums. The relatively upbeat purchasing managers’ index reading for this month was largely driven by the global AI investment boom and the broader export sector, but other industries in the world’s second-biggest economy remain sluggish: Real estate construction contracted, and consumer spending was lackluste…
China’s factory activity rebounds in June but weak domestic demand lingers
China’s factory activity returned to expansionary territory in June, supported by strong exports, while other data signalled that domestic demand continued to show weakness. The official manufacturing purchasing managers’ index (PMI) – an indicator of factory activity – rose to 50.3 in June from 50.0 in the previous month, according to data released on Tuesday by the National Bureau of Statistics (NBS). The reading slightly beat the 50.03 projec…
The PMI purchasing manager index has risen surprisingly, but the recovery is vulnerable: trade conflicts with the EU and geopolitical risks make China vulnerable to external influences.
The Toronto Star
China’s factory activity expands in June with boost from tech exports
HONG KONG (AP) — China’s factory activity picked up pace in June, an official survey showed Tuesday, as demand for artificial intelligence hardware made exports robust.
Associated Press News
China's factory activity expands in June with boost from tech exports
China says its factory activity picked up pace in June. The survey released by the National Bureau of Statistics said the manufacturing purchasing managers index, or PMI, expanded to 50.3 in June from 50 in May.
China’s factory activity tops forecasts in June
A National Bureau of Statistics official said June saw ‘improved market demand’, particularly in electronics, specialist equipment and food processing. (EPA Images pic) BEIJING: China’s factory activity picked up this month, official data showed Tuesday, providing a much-needed boost to authorities as Beijing battles to kickstart the domestic economy. The manufacturing sector has faced uncertainty this year from the war in the Middle East, which…
Coverage Details
Bias Distribution
- 42% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
