China’s manufacturing activity declines for third month in June

China’s manufacturing PMI index fell to 49.7 in June, marking the third consecutive month of contraction. Policymakers aim to boost local demand amid a struggling trade deal with the US, which continues to affect overall economic performance.

Export orders have shown signs of recovery after a recent trade truce with the US. However, China’s export controls now impact a broader range of products, potentially straining global supply chains beyond rare earth elements.

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