BEIJING: Chinese manufacturing activity contracted further in June, data showed Monday, with a closely watched survey hitting a nine-month low and adding to signs of weakness in the world's second-largest economy.
HSBC said its final purchasing managers' index (PMI) reading came in at 48.2 last month, down from 49.2 in May and the lowest since September. It was also weaker than the bank's preliminary June figure of 48.3.
The index tracks manufacturing activity in China's factories and workshops and is a closely watched barometer of the health of the economy. A reading below 50 indicates contraction, while anything above signals expansion.
HSBC said its final purchasing managers' index (PMI) reading came in at 48.2 last month, down from 49.2 in May and the lowest since September. It was also weaker than the bank's preliminary June figure of 48.3.
The index tracks manufacturing activity in China's factories and workshops and is a closely watched barometer of the health of the economy. A reading below 50 indicates contraction, while anything above signals expansion.
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