China PMIs for June: Manufacturing 49.4 (vs. 49.5 expected) & Services 54.2 (54.2 expected)
These are the official PMI survey results, from NBS, for June 2019. The private survey PMIs (Caixin/Markit)will follow from Monday.
- expected 49.5 (range of 'expecteds' was 49.0 to 50.1 according the Bloomberg survey of 29 analysts)
- prior 49.4
- As you can see, unchanged on the month but down slightly on expected, and still in contraction. Yesterday's 'truce' between the US and China on trade will likely give the July figure a boost, all else being equal.
- new export orders sub measure fell further
- expected 54.2, prior 54.3
- an expansionary reading for this is more encouraging that the contraction for manufacturing (despite this, the result is still down from earlier this year)
Composite is 53.0
- from prior 53.3
This is the past 3 years of the manufacturing PMI: