June official Manufacturing PMI hits six-month high of 51.0%

It's at its highest level this year.

June official Manufacturing PMI jumped from 50.8% in May to 51.0% by the end of June, its highest level this year.

According to a research note from CCB International, the Production Index rose from 52.8% in May to 53.0% by the end of June.

Meanwhile, the New Order Index and New Export Order Index were 52.8% and 50.3%, up 0.5ppt and 1.0ppt from May, indicating rising demand.

The Raw Materials Inventory Index remained flat at 48.0% while the Finished Goods Inventory Index rose 0.2ppt to 47.3%, the report said, a sign producers are still reluctant to begin re-stocking.

Here's more from CCB International:

The Raw Materials Purchase Price Index was up 0.1ppt to 50.1% in June, suggesting PPI MoM is likely to remain flat or else see only marginal improvement in June.

The HSBC Manufacturing PMI final reading hit a seven-month high of 50.7% in June. June official Service Sector PMI was 55.0%, its second-highest peak this year while the HSBC Service Sector PMI reached a fifteen-month high of 53.1% in the same period.

Overall, the most recent PMI numbers indicate China’s economy s stabilizing and that the Chinese government's recent measures to shore up growth seem to be working.

Also Read

Low inflation in Singapore unlikely to hold in 2Q24

Lower private transport costs ease inflation to 2.7% YoY in March

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit