Manufacturing activity has contracted in China for the third consecutive month, adding to pressure on Beijing’s policymakers to tackle a slowdown across the world’s second-largest economy.
The official manufacturing purchasing managers’ index was 49 in June, slightly up from 48.8 in May, but still showing a month-on-month contraction in activity.
While China’s economy is growing compared with last year, when the government’s three-year crusade against Covid-19 reached its most intense period before being abruptly abandoned, the pace of its recovery has lost steam in recent months.
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