China manufacturing activity contracts in June: HSBC

Posted by BankInfo on Wed, Jun 24 2015 09:09 am

China's manufacturing activity contracted for the fourth straight month in June as demand remained sluggish in the world's second-largest economy, a survey by British banking giant HSBC showed Tuesday.

The bank's preliminary Purchasing Managers' Index (PMI) came in at 49.6 in June, the highest in three months but still below the breakeven point of 50, HSBC said in a statement.