China June factory growth slows on COVID-19, supply chain snags -Caixin PMI


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Article content BEIJING — China’s factory activity expanded at a softer pace in June, as the resurgence of COVID-19 cases in the export province of Guangdong and supply chain woes drove output growth to the lowest in 15 months, a private survey showed on Thursday. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 51.3 last month from May’s 52, marking the 14th month of expansion, but it came below analyst expectations for a only slight slowdown to 51.8. The softer results in the private survey, mostly covering export-oriented and small manufacturers, are in line with those in an official...