BEIJING (dpa-AFX) – In China, the mood among small and medium-sized industrial companies has fallen more than expected. However, since the purchasing managers’ index determined by the business magazine “Caixin” remained above the threshold of 50 points, like the state indicator published the day before, it points to further growth in the sector. The “Caixin” index fell in June by 0.7 points compared to the previous month to 51.3 points, as the magazine announced in Beijing on Thursday. Economists surveyed by Bloomberg had expected an average of only a minimal decline to 51.9 points.
The government had already published its sentiment indicator for the large and state-dominated industrial companies on Wednesday. This decreased by 0.1 points to 50.9 points. Despite the decline, analysts rated the development of the purchasing managers’ indices as proof that the recovery of the Chinese economy is stabilizing after the corona shock last year. The high growth rates from the beginning of the year are unlikely to continue, however, as developments normalize.
High growth rates in industry at the beginning of the year were the most important building block for China’s strong growth in the first quarter. The Chinese economy grew by a record 18.3 percent in the first quarter. The People’s Republic was able to recover from the economic consequences of the corona pandemic faster than most other countries. On July 15, the government wants to publish the data for the development of the gross domestic product (GDP) for the second quarter. / Zb / jkr / jha /