China’s manufacturing softens in June amid export weakness
BEIJING (AP) — A survey shows growth in China’s manufacturing activity softened in June as export demand weakened and producers struggled with supply bottlenecks. The monthly purchasing managers’ index issued by the national statistics agency and an industry group declined to 50.9 from May’s 51.0 on a 100-point scale where numbers above 50 show activity increasing. Measures of new export orders, production and factory gate prices declined. China’s factory output and consumer spending have rebounded to above pre-pandemic levels but export demand is uneven as governments fight outbreaks of the new coronavirus variant.