6月中國製造業數據出現分歧

China's factories held up in June after the country's official PMI index showed the manufacturing sector continued to expand for the fourth consecutive month.

6月份，中國的工廠又在運轉了。此前，中國官方採購經理人指數(PMI)顯示，中國製造業連續第4個月處於擴張之中。

The country's manufacturing purchasing managers' index was 50.2 in June, slightly below expectations of 50.4. It had also been 50.2 in May. Any level above 50 reflects growth and the sector last contracted in February.

6月份中國官方製造業PMI指數是50.2，略低於50.4的預期。該指數5月份讀數也是50.2。PMI指數高於50，表示相關產業處於增長之中。中國的製造業最近一次收縮出現在今年2月。

Meanwhile China's services PMI reading for May was also over the point which separates growth from contraction, coming in at 53.8. It had been 53.2 in May, with readings of between 53 and 54 for 2015 so far.

此外，6月份中國服務業PMI讀數爲53.8，也高於50的榮枯線。相比之下，今年5月的服務業PMI讀數爲53.2,。2015年迄今，該讀數一直在53到54之間。

China's economy grew at a 7 per cent year-on-year pace in the first quarter, the slowest rate of growth in six years. Chinese policymakers are now talking of the 'new normal' - a new period of slower growth - after the economy's dramatic expansion over the previous two decades.

今年第一季度中國經濟同比增速爲7%，是6年來的最慢增長速度。目前，在中國經濟經歷了過去20年的急劇增長之後，中國政策制定者正在提及“新常態”，即增長較爲緩慢的新時期。

China's economy performed worse than expected in June, according to a closely-watched PMI survey compiled by HSBC, which indicated the country's manufacturing sector contracted more than first thought.

不過，由匯豐銀行編制的製造業PMI指數要悲觀一些。根據這一備受關注的指數，6月份中國經濟狀況弱於預期，該指數顯示製造業的收縮狀況比最初預料得嚴重。

HSBC's final manufacturing purchasing managers' index reading for June was 49.4, less than the original reading of 49.6 which economists had expected to be confirmed today. Any reading below 50 indicates contraction in the sector.

6月份匯豐銀行製造業PMI指數的最終版讀數爲49.4，低於此前經濟學家49.6的預期，表示製造業處於收縮之中。

The result stands in contrast to the official PMI reading, released an hour ago, which stated that the manufacturing sector had grown for the fourth consecutive month, with a reading of 50.2 in June.

這一讀數和官方PMI讀數出現了很大反差。不過，兩者之間經常會出現略微不同步的現象，這通常是調查方法上的區別導致的。官方PMI調查側重於規模較大的國有企業，而匯豐銀行的調查樣本要少得多，調查對象也集中於規模較小的民營企業。這種區別導致匯豐銀行的PMI指數波動性比官方PMI指數更大一些。