OREANDA-NEWS In June 2022, the Purchasing Managers' Index (PMI) in China's manufacturing industry has risen to 50.2 points from 49.6 points a month earlier, the country's National Bureau of Statistics (NBS) reports.

The value of the index rose above 50 points for the first time since February. This indicates an increase in the sector's activity. It is considered that the change is due to the ending of quarantine restrictions in Shanghai and some other Chinese cities.

According to Trading Economics data, on average, analysts expected the PMI to increase to 50.5 points.

The production sub-index rose this month to 52.8 points from 49.7 points in May, and the sub-index of new orders increased to 50.4 points from 48.2 points. The rise of both indicators above 50 points was noted for the first time in 4 months.

Moreover, the sub-index of new export orders increased to 49.5 points from 46.2 points, employment syb-index rose to 48.7 points from 47.6 points. The indicator assessing optimism in the industry for the near future rose to 55.2 points against 53.9 points in May, which is a maximum of three months.

Meanwhile, the NBS found out that PMI for services and construction jumped to 54.7 in June, rising above 50 for the first time in 4 months. In May, the figure was 47.8 points.

The consolidated PMI increased to 54.1 points from 48.4 points in April.