China manufacturing PMI grows slightly more than expected in June

AI Summary

China's manufacturing purchasing managers index (PMI) rose slightly above expectations in June to 50.3, signaling modest expansion. Growth was supported by strong export demand and increased artificial intelligence investments despite weak domestic consumption.

Chinese manufacturing activity grew slightly above expectations in June as business activity was aided by strong export demand and robust artificial intelligence spending. But activity barely remained in expansion territory, as sluggish domestic demand and weak consumer spending continued to weigh. China’s official manufacturing purchasing managers index rose to 50.3 in June, slightly above expectations ...