China Composite PMI Hits 3-Month High

The Caixin China General Composite PMI rose to 51.3 in June 2025 from 49.6 in the previous month, marking the highest reading since March.

Underlying data revealed that a renewed increase in manufacturing production had offset a softening of services activity growth.

New business returned to growth despite continued weakness in exports.

However, job shedding persisted, leading to the fastest buildup of backlogged work in a year.

On the price front, average input costs dipped slightly after two consecutive months of increases.

Firms passed on these savings to clients in an effort to boost sales, resulting in the steepest cut to average selling prices in over two years.

Meanwhile, business optimism edged down slightly.