China’s economy flickers into life

Flickers of light are piercing the economic gloom in China. But the flame of growth could easily be snuffed out by the Covid-19 pandemic.

Official figures released by the National Bureau of Statistics on Tuesday showed that factory activity picked up again in June.

China’s Purchasing Managers’ Index, or PMI, edged higher at 50.9 compared to 50.6 in May. The non-manufacturing PMI also increased slightly to 54.4 from 53.6 with a figure above 50 classified as expansion.

“We still face uncertainties. [But] recovery momentum of the manufacturing sector was further consolidated, stimulating related business activities in the service sector,” Zhao Qinghe, a senior statistician at the NBS, said. 

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