China's June factory activity rises to 50.3

BEIJING: China’s factory activity ​returned to expansion ‌in June, an official survey showed ​on Tuesday, ​driven by strong ⁠high-tech manufacturing exports ​linked to ​the AI boom, even as shipments of ​other goods ​remained weak alongside subdued ‌domestic ⁠demand.

The official purchasing managers’ index (PMI) rose to 50.3 in ​June ​versus ⁠50.0 in May, above the 50-mark ​separating growth ​from ⁠contraction, and beating a median forecast of 50.1 in ⁠a ​Reuters poll.