AI Data Insight
China's June manufacturing major raw material purchasing price PMI dropped significantly to 54.2 from 60.5 in the previous month, hitting the lowest level this year. Although the overall manufacturing PMI edged up to 50.3, returning to the expansionary zone, the slowdown in raw material price hikes occurred simultaneously with factory-gate prices falling below the boom-bust line. The easing of cost pressures is expected to bring breathing room to mid- and downstream enterprises, but vigilance is still needed regarding the potential risk of insufficient recovery momentum in terminal demand.