Manufacturing decline shown in 2nd survey

China raised state-controlled retail fuel prices on June 20 to help oil processors cut losses and encourage them to increase supplies after soaring oil prices led to refinery closures and rationing in some regions.

A second PMI survey for June, released today by CLSA Asia- Pacific Markets, also reported rising prices and a weaker expansion of manufacturing. It differed in showing an increase in its index for new export orders. The two studies use different methodologies.

Started in 2005, the logistics federation's PMI rose to a record 59.2 in April.

It's based on a survey of more than 700 companies in 20 industries, including energy, metallurgy, textile, automobile and electronics.

The input-price index rose to 75.7 in June from 73.9 in May. The index of new orders dropped to 52.6 from 55.4. The output index declined to 54.2 from 55.7.

The PMI also tracks changes in employment, inventories and output prices. The data is seasonally adjusted. The logistics federation jointly releases the figures with the National Bureau of Statistics.