MNI China Business Sentiment Survey for June: +7.6% m/m
- To 53.5 (from 49.7 in May)
- highest since January
The survey is of 200 companies listed on the Shanghai or Shenzhen exchanges
FastFT reports:
Spurred by the most recent rate cut in May, firms reported that their access to credit was the highest since August 2014 and a higher proportion of companies reported that the cost of loans had decreased between May and June," MNI's report said
Philip Uglow, chief economist of MNI Indicators, warned not to be too optimistic: "Activity is running below trend and disinflationary pressures continue suggesting that economic growth will remain relatively subdued in the near future"
