China manufacturing grows for 1st time in 6 monthsBy AP News Jul 01, 2014 3:28PM UTC
BEIJING (AP) — A survey shows Chinese manufacturing grew in June for the first time in six months but the expansion was weak.
HSBC Corp. said Tuesday its purchasing managers index rose to 50.7 from May’s 49.4 on a 100-point scale on which numbers above 50 show growth.
The bank said output rose for the first time since January while new export orders rose for a second month.
The bank said, however, that the rate of improvement was “only slight and weaker than the historical average.”