China's Manufacturing PMI Rises to 49.7% in June, Expanding for Second Consecutive Month

China's manufacturing sector continued to show signs of recovery in June, with the Purchasing Managers Index (PMI) rising to 49.7%, an increase of 0.2 percentage points from the previous month and marking a second consecutive month of growth. Data released by the China Logistics and Purchasing Federation and the Service Industry Survey Center of the National Bureau of Statistics on June 30 indicated that 11 out of 21 surveyed industries were in the expansion range, four more than the prior month, reflecting an expanding manufacturing prosperity level. As external disruptions diminished, domestic manufacturing returned to a stable path, with the new orders index rebounding to 50.2% and the new export orders index rising for the second straight month, signaling improvements in both demand and exports. In response, enterprises expanded production and raw material procurement, with the purchasing volume index also climbing back above the 50% threshold. Vice President of the China Logistics and Purchasing Federation He Hui noted that the implementation of a series of policies is driving gradual improvements in both supply and demand, with economic resilience further strengthening.