11-July-2020
Economy News
 
China's factory activity likely slowed in June on subdued global demand
30-Jun-2020

China's factory activity likely grew for the fourth month June but the pace may be waning, as global demand stayed subdued while a fresh coronavirus outbreak in the Chinese capital and rising worldwide cases threaten to undermine a gradual domestic recovery. The official manufacturing Purchasing Manager's Index (PMI), due for release on Tuesday, is expected to ease to 50.4 in June, from 50.6 in May, according to the median forecast of 29 economists polled by Reuters. A reading above 50 indicates an expansion in activity. With travel bans finally lifted in April in Wuhan, the epicentre of the country's coronavirus crisis, China has largely managed to recover from strict lockdowns that had led to weeks of economic paralysis. Yet export demand has remained weak with infections steadily rising across the world. Some fear a worldwide recession might turn out to be more pronounced than expected in the event a second wave of coronavirus cases force many countries to reimpose strict lockdowns.

News Source:- https://www.business-standard.com/article/international/china-s-factory-activity-likely-slowed-in-june-on-subdued-global-demand-120062900393_1.html