News Snapshot:
BEIJING, China — China's factory and services activity picked up in June, official data showed Thursday, fuelled by the easing of Covid-19 restrictions in major cities such as Shanghai and Beijing. The non-manufacturing Purchasing Managers' Index (PMI), a key gauge of activity in the world's second-biggest economy, defied expectations and surged to 54.7 points in June after three months of sluggish performance. It was the first time since February that the reading was above the 50-point mark separating growth from contraction. It sat at 47.8 in May. "As the situation of domestic epidemic prevention and control continued to improve and...
