China’s economy continued its slow recovery from the coronavirus slump in June, with a better performance in the services sector and among smaller companies tempered by the still-grim global outlook.
That’s the assessment from the earliest available indicators, which showed the economy continuing to strengthen, after a big pickup in May. The final result last month was stronger than initially seen, due to growth in the services sector, according to the purchasing manager indexes.
The outlook fir smaller firms continuedrising in June, according to a Standard Chartered Plc survey of companies, with indexes tracking confidence, outlook and new orders at their highest since the coronavirus shutdown.
“Sales grew rapidly, mainly on stronger domestic demand,” according to Standard Chartered Economists Shen Lan and Ding Shuang. “Production activity picked up, with capacity usage accelerating and hiring increasing mildly.”
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