The manufacturing activity in China contracted for the third consecutive month, increasing the pressure on the politicians in Beijing to address a deceleration in the world’s second largest economy.
The official manufacturing PMI was 49 in June, slightly superior to 48.8 in May, but still showing a contraction in monthly activity.
While China’s economy is growing compared to the past year, when the government’s three-year crusade against COVID-19 reached its most intense period before being abruptly abandoned, the pace of hunger and chaos has slowed.
The vast real estate sector of the country, which represents more than a quarter of the activity, has been experiencing a prolonged deceleration, while the juvenile unemployment rate has exceeded 20 percent and the trade is falling. Lasexexaciones SE contrajeron a 7,5 por Sciento interannual en Mayo.
Los Datos Official del PMI del Viernes Mostarron from El Sector de Servicios, que ha estado bajo una presío sostenida durante las restrictions de covid, está creciendo mes a mes, con una lectura de 53,2 en junio. But it grew at a rate slower than the reading of May of 54.5 and exceeded analysts’ expectations.
Beijing apunta a crecimiento del PB del 5 por ciento este ano, su objetivo oficial más bajo en decasa después de que el crecimiento fuera solo del 3 por ciento el año pasado.
Prime Minister Li Qiang said at an event at the World Economic Forum in Tianjin this week that growth in the second quarter will surpass the 4.5 percent recorded in the first three months of the year. “Estamos en Camino de achiever el objetivo de cresimiento que establecimos para este año”, said Lee.
“Tenemos la capacidad de lograr un cresimiento permanent de la economia China”, Dijo, en comentarios que también apuntaron a los intentos de Estados Unidos y Europa de “eliminar el riesgo” de los lazos con China .
El Banco Popular de China, El Banco Central del Pais, Ricorto las tas de interes esté mes, Pero las autoridades no han desatado ninguna medida important de stimulo fiscal o monetario en respuesta a meses de datos económicos decepcionantes.
Los Economistas Esperan Ampliamente and Varidad de Medidas Addisonales, Desde il Gasto and Infrastructura Hasta and Possible Relaxation de las restrictions de compra de propiedades.
Citi analysts pointed out that the construction PMI figure of 55.7, although it indicated an expansion in the sector, was at its lowest level this year and reflected a broader weakness in the real estate sector.
He said that it is likely that an expected meeting of the Politburo, the main policy formulation body of the Chinese Communist Party, in July will be “a window to discuss a more complete package”.
