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China manufacturing activity contracts in June: HSBC

China's economy has continued to slow in 2015 after growing at its weakest pace -- 7.4% -- in nearly a quarter-century last yearChina’s manufacturing activity contracted for the fourth straight month in June as demand remained sluggish in the world’s second-largest economy, a survey by British banking giant HSBC showed Tuesday. The bank’s preliminary Purchasing Managers’ Index (PMI) came in at 49.6 in June, the highest in three months but still below the breakeven point of 50, HSBC said in a statement. The index, which is compiled by information services provider Markit and tracks activity in factories and workshops, is seen as a key barometer of the country’s economic health.

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