Japan, China manufacturing activity grows in June

(MENAFN) Manufacturing activity in Asia's industrial powerhouses China and Japan grew in June, fuelled mainly by improving demand at home, but a long-awaited bounce in exports remained slow in coming, The Peninsula Qatar reported



Manufacturing surveys yesterday confirmed that factory output across Asia is expanding following months of decline in its two biggest economies



However, the surveys' new export indexes, which determines the strength of overseas demand, showed only tepid growth in a sign that the region has yet to capitalize on an uneven recovery in the eurozone and delayed upturn in the US economy



China's final HSBC/Markit purchasing managers' index (PMI) increased to 50.7 percent, slightly below its preliminary reading, but confirming its first expansion in six months, from 49.4 in May. China's official gauge, which is geared more towards bigger state-owned firms, hit a six-month high of 51.0 percent