The Chinese government’s Purchasing Managers’ Index declined for a second month in June, falling to 52.1 from 53.9 in May. The median forecast in a Bloomberg News survey of 12 economists was 53.2. An HSBC Holdings Plc manufacturing index slid to a 14-month low.
“There are concerns that this slowdown will infringe on cotton consumption,” Johnson said.
Equities fell in Asia, the U.S. and Europe on concern that an economic slowdown will impede the global recovery. The Shanghai Composite Average is down for the seventh straight day, after touching a 14-month low yesterday.
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