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China manufacturing activity rebounds to expansion zone

TOKYO, June 30 (KUNA) -- China's manufacturing activity rebounded in June, turning back into expansion territory for the first time in three months, state-run Xinhua News Agency reported Thursday.
The National Bureau of Statistics said the Purchasing Managers Index (PMI) for China's manufacturing sector, a gauge of activity of some 3,000 big and state-owned firms across the country, rose to 50.2 from May's 49.6 on a 100-point scale.
A PMI reading above 50 percent indicates growth from the previous month, while a reading below 50 represents contraction. The index, a closely watched barometer of the health of the world's second-biggest economy, has been in contractionary territory since March.
"As the epidemic prevention and control situation in China continues to improve and policies and measures to stabilize the economy take effect at a faster pace, China's overall economic recovery is picking up," bureau senior statistician Zhao Qinghe was quoted as saying in Beijing. Thursday's data also showed that the PMI for China's non-manufacturing sector came in at 54.7 in June, up from 47.8 in May. (end) mk.gta