Chinese manufacturing sector expands significantly in June

By Gokhan Ergocun

ISTANBUL (AA) - China's manufacturing sector in June improved significantly, with a growth rate of the production the fastest for the last two years, data provider S&P Global announced on Monday.

"Firms also acquired more inputs to support production, leading to higher stocks of purchases," it noted.

Meanwhile, it stressed that employment numbers were little changed.

Input costs in the country rose in June at the fastest rate since June 2022. It said this led to the first increase in average selling prices this year.

It also said firms were concerned about rising competition and the possibility of slower growth ahead, noting: "Optimism was subsequently the lowest since November 2019."

The Purchasing Managers' Index for the sector was at 51.8 in June in the country, up slightly from 51.7 in May, posting eighth successive monthly improvement.

Sentiment in the Chinese manufacturing sector was positive midway into 2024, it added.