Investing.com - Caixin's China manufacturing PMI for June beat expectations, offering hope the world's second-largest economy continues to defy expectations for a slowdown.
The private survey came in at 50.4, marking a three-month high. It was up from May's 49.6, which was an 11-month low, and beat a Reuters poll forecast for 49.5.
Levels above 50 signal an expansion, while levels below 50 indicate contraction.
The Caixin PMI tends to focus on smaller, private companies, while the official data tends to focus on larger, often state-owned companies.
The rise was spurred by stronger increases in production and new orders. The June Caixin PMI wasn't all positive, with the release saying the optimism toward the business outlook touched its lowest level so far this year.
But the improved data offered confirmation of the official PMI figures, released on Friday, which showed that manufacturing activity accelerated more than expected in June.
The official manufacturing Purchasing Managers' Index rose to 51.7 in June, accelerating from May's 51.2 and beating a Reuters poll forecast for 51.0.
In the services sector, the official services PMI for June rose to 54.9 from May's 54.5.