BEIJING: China's manufacturing activity contracted for a third straight month in June, albeit at a slower pace, an official factory survey showed on Friday (Jun 30), as pressure builds for p
in June, albeit at a slower pace, an official factory survey showed on Friday , as pressure builds for policymakers to release more stimulus to shore up weak demand.
"Economic momentum is still quite weak in China," said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management in a note."It is not clear if the weak economic data would push the government to launch aggressive stimulus measures soon," he added. Analysts have begun downgrading economic forecasts for China's economy for the rest of the year, after May industrial output and retail sales data missed expectations, a sign the post-pandemic recovery seen in the first quarter was losing steam.
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