Growth in China's manufacturing sector accelerated to a six-month high in June, registering a strong end to the second quarter and an encouraging sign that the economy is further stabilizing.
The purchasing managers' index (PMI) rose to 51 in June, up from 50.8 in May and the highest since December, according to data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
This is also the fourth monthly rise of the PMI, a widely watched indicator for the health of the world's second largest economy, which registered a weak start at the beginning of the year and stirred much market concern.
"The continuous rises in PMI indicate that a trend of stable economic growth has generally been established," said Zhang Liqun, a researcher at the Development Research Center of the State Council. "The policy measures aiming to stabilize growth have had the desired effect," he added.
China's non-manufacturing PMI dropped to 55 points in June from a six-month high of 55.5 in May. |