China's factory activity ticks up but remains below key level
China's factory activity picked up slightly in June. But its key gauge remained below the boom-or-bust line for a third month in a row, as businesses are still concerned about the future of trade talks with the US.
The National Bureau of Statistics says the manufacturing Purchasing Managers' Index was 49.7 for the month.
That's up 0.2 from May, but still below the 50-point threshold.
Figures above the mark indicate expansion, while those below suggest contraction. The Bureau surveyed 3,200 manufacturers.
The index for large businesses exceeded the threshold, at 51.2. But activity at medium- and small-sized firms remained sluggish.
Meanwhile, the index for the non-manufacturing sector, including service providers, improved by 0.2 points to 50.5.
Washington and Beijing continue to hold tariff negotiations after slashing additional levies on each other.
Concerns were somewhat eased following a round of talks in London, but this was not enough to reverse the cautious outlook.
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