The June PMI print of 51.7 signals slight expansion in China’s factory activity, exceeding expectations of 51.6.
China’s S&P Global/Rating Dog Manufacturing PMI for June reached 51.7, slightly above the consensus estimate of 51.6. The reading indicates continued, albeit modest, growth in the sector following May’s 51.8 print.
The index remains above the 50-mark, separating expansion from contraction, but reflects a marginal slowdown from the prior month. Analysts had anticipated a minor dip, making the upside surprise a notable data point for markets.
Asian equities rallied on broader tech-driven gains, while the yen’s 40-year low and shifting Fed rate expectations dominated currency and bond markets.