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A recent CNBC article citing the Caixin/Markit factory Purchasing Managers’ Index for June was 49.4. PMI scores of 50 or above indicate expansion where as below 50 signals a reduction. 49.4 is the lowest the PMI has been since January of this year. In May, the PMI reading was 50.2. China’s official PMI index was also 94.4 in June.

To determine PMI, the official PMI looks at big businesses and state-owned enterprises whereas the Caixin looks at smaller and medium-sized firms.

Will post July numbers as they become available.