Focus on Arts and Ecology

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China is making an economic recovery

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July 1, 2022 

China's economic recovery gathered pace in June as the factory and the service sector expanded, official data showed on Thursday.

The June composite PMI, measuring both manufacturing and services activity, rose to 54.1 compared with 48.4 in the previous month, data from the National Bureau of Statistics (NBS) showed.

China's manufacturing purchasing managers' index (PMI) rose to 50.2 in June as production recovered and logistics improved. It slightly missed Reuter's forecast at 50.5.

China's economic planning agency said on Tuesday that the country can cope with unexpected risks this year to achieve its GDP growth target of around 5.5 percent.

The country unveiled a detailed policy package in May to prop up the economy. The package covers six areas, including fiscal, consumption, and supply chain, with a total of 33 measures.

(Sources: China Report)

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