RatingDog said June manufacturing PMI was 51.7. Production and demand remained expansionary; output continued to rise but at a slower pace than in May. Total new orders stayed in expansion with marginally faster growth, while new export orders fell further versus May and remained in contraction. Easing input-cost pressure has modestly improved corporate margins, but external demand weakness and a decline in firms’ forward expectations were evident. Monitor the trajectory of external demand recov

RatingDog said June manufacturing PMI was 51.7. Production and demand remained expansionary; output continued to rise but at a slower pace than in May. Total new orders stayed in expansion with marginally faster growth, while new export orders fell further versus May and remained in contraction. Easing input-cost pressure has modestly improved corporate margins, but external demand weakness and a decline in firms’ forward expectations were evident. Monitor the trajectory of external demand recovery and the durability of raw-material cost relief.