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According to cnbc, the manufacturing momentum in the world's number two economy skidded to a four-month low in June, show twin surveys released on Friday.
The government's manufacturing Purchasing Managers' Index (PMI), a survey that tracks the health of large and state-owned companies, came in at 50.0 last month, versus 50.1 logged in May and April. The report was bang in line with Reuters' estimates and marked the weakest result since February's 49.0 figure.
From March-May, the survey logged results above the key 50 level, which separates expansion from contraction. In the seven months before March, the survey remained stuck below 50.
Caixin's China June manufacturing PMI, which tracks smaller-scale private firms compared to the official gauge, also recorded the fastest rate of deterioration in four months. The index reported a 48.6 reading for June, compared with 49.2 in May.
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