China manufacturing helps lift Sales Managers’ Index to 20 month highStaff Writer | June 21, 2017
Sales Managers’ Index (SMI) data shows that the Chinese economy grew faster in June than for some time, picking up pace with a Headline SMI value of 52.5, up from 51.6 in May.
Asia The Market growth index
Manufacturing companies signalled the fastest rate of growth since May 2016 with the New Orders Index hitting 55.3.
The monthly Sales Growth Index for the non-manufacturing industries also registered an increase to 56.9 confirming strong overall private business activity for the economy.
The Prices Charged Index for the Manufacturing sector remained stable for the third consecutive month in June with a value of 51.7.
The Non-Manufacturing sector, that represents consumer goods and services, decreased to 51.2.
Business optimism improved in June but still remains low overall, however managers in the service sector were significantly more upbeat than those in the manufacturing sector. ■