News Snapshot:
The Caixin/Markit manufacturing purchasing managers’ index (PMI) rose to 51.7 last month from 48.1 in the previous month, well above analysts’ expectations of 50.1. China’s manufacturing bounced back in June, growing at its fastest in 13 months, amid a robust revival in production following the lifting of Covid lockdowns, a Caixin survey showed. The 50-point index mark separates growth from contraction on a monthly basis. The recovery suggested in the Caixin survey, which focused on more export-oriented and small firms in coastal regions, was more convincing compared with findings in an official survey. Economic activity, especially manufacturing in China, has...
