Survey shows China's manufacturing contracted in June as export orders decreased
A survey shows China’s factory activity contracted for another month in June as export orders decreased BEIJING -- China’s factory activity contracted for another month in June as export orders decreased, an official survey showed Friday, adding to signs an economic rebound following the end of anti-virus controls is cooling. A monthly purchasing managers’ index issued by the national statistics agency and an industry group edged up to 49 from May’s 48.8 on a 100-point scale on which readings below 50 show activity contracting. The world's second-largest economy revived following the end in December of anti-virus controls on Travel and Business activity. But that faded faster than expected due to lackluster consumer spending at home and weak demand for export s following interest rate hikes in the United States and Europe to cool i NFL ation. Despite that, China’s No. 2 leader, Premier Li Qiang, said this week economic growth accelerated in the April-June period from the previous