Manufacturing activity in China weakens to four-month low

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MUMBAI: Manufacturing activity in China weakened in June to a four-month low. The high cost of raw materials, the global shortage of semiconductors and the resurgence of corona cases in the main export province of Guangdong have affected manufacturing activity.

China's Purchasing Managers' Index (PMI) for the manufacturing sector, which stood at 21.00 in May, fell to 30.50 in June, according to data from the National Bureau of Statistics.

China, the world's second-largest economy, has largely recovered from the effects of the Korona virus, but disruptions in the global supply chain, ranging from high raw material prices, continue to pose a challenge to China's manufacturing sector.

Exports have been disrupted by a resurgence of corona cases in China's main export province of Guangdong. New export orders declined for the second month in a row in June.

On the other hand, the impact on auto production due to the shortage of chips has resulted in an unexpected decline in manufacturing activity in Japan and South Korea, another report said.

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