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China Factory Activity Slows in June, Tariffs Blamed

The Trump effect

If you’re wondering why Xi Jinping suddenly seems more willing to come back to the negotiating table with Trump, it’s because of news like this:

China’s manufacturing activity shrank unexpectedly in June, coming in at its worst reading since January, according to a private survey.

The Caixin/Markit factory Purchasing Managers’ Index for June was 49.4 — the lowest since January when the indicator came in at 48.3.

Analysts polled by Reuters had expected the indicator to come in at 50. The PMI reading for May was 50.2.

PMI readings above 50 indicate expansion, while those below that signal contraction.

The lackluster reading was due to new orders falling into contractionary territory, pointing to shrinking domestic demand, said Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin. The index measuring new export orders was also in negative territory,.

“Overall, China’s economy came under further pressure in June,” Zhong wrote in a report.

 
Doomberg

Written by Doomberg

I am Doomberg, one of the original founding members of Sparta Report, and have been here since the beginning. I am an insatiable news junkie and enjoy reading and writing about the US territories, the Caribbean, video games, smartphones, and of course conservative politics in general.

I also really like pictures of gas stations and claim full responsibility for the silly gas station motif. I'm presently trapped behind enemy lines in a blue state with no hope of escape! The ride never ends.

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