China’s factory activity unexpectedly returned to growth among export-oriented manufacturers in June, a private survey showed Tuesday, as the country shrugged off headwinds from trade disruptions. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) came in at 50.4, beating Reuters’ median estimate of 49.0 and rebounding from 48.3 in May, which had been its worst contraction since September 2022. The private survey appeared to diverge from the country’s official PMI report, released on Monday, which showed that manufacturing activity contracted for a third consecutive month in June, despite a ... (full story)