China manufacturing shrinks for first time in four months
BEIJING - Chinese manufacturing contracted in June for the first time in four months as new orders decreased amid reports of trade tensions.
The Caixin China General Manufacturing PMI, which gives an independent snapshot of the manufacturing sector's operating conditions, dipped to 49.4 in June from 50.2 in May, indicating a marginal deterioration.
It is the lowest reading since January for the sector, which accounts for about 30% of China's GDP. www.webershandwick.cn (ATI).