Chinese manufacturing activity contracted for the third straight month in June, according to official data, highlighting the impact of a trade war with the US despite a fragile truce.
The manufacturing purchasing managers’ index stood at 49.7 in June, data from the National Bureau of Statistics showed on Monday, an improvement on May’s reading of 49.5 but still below the 50-mark that separates expansion from contraction.
China’s manufacturing PMIs — a monthly survey that provides an early glimpse of economic activity — turned negative in April as an escalating trade war with the US drove tariffs to levels as high as 145 per cent.
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