Surveys show Chinese economy growing but at modest pace
Mon, Jul 1, 2024 2:24 PM

Surveys show Chinese economy growing but at modest pace

A Flip by Shubhangi Gupta
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China's factory activity remained steady in June, with the official PMI holding at 49.5, indicating a slow recovery. A private-sector survey by Caixin showed a more optimistic 51.8, but confidence among purchasing managers fell due to intense competition. The reading suggests the recovery lost some momentum, with mixed signals on the impact of measures to boost the property sector.

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