Beijing — Growth in China’s manufacturing sector slowed in June after a better than expected performance in May, official data showed, as escalating trade tensions with the US fuel concerns about a slowdown in the world’s second biggest economy. China’s economy has already felt the pinch from a multiyear crackdown on riskier lending that has driven up corporate borrowing costs, prompting the central bank to pump out more cash by cutting reserve requirements for lenders. The official purchasing managers index released on Saturday fell to 51.5 in June, from 51.9 in May, but it remained well above the 50-point mark that separates growth from contraction for a 23rd straight month. Analysts surveyed by Reuters had forecast the reading would dip marginally to 51.6. The findings are in line with recent data including credit growth, investment and retail sales pointing to slowing growth in China’s economy, as policy makers navigate debt risks and a heated trade row with the US. Significantl...
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