Arab Today, arab today china manufacturing rebounds
Last Updated : GMT 17:53:56
Arab Today, arab today
Arab Today, arab today

China manufacturing rebounds

Arab Today, arab today

Arab Today, arab today China manufacturing rebounds

Beijing - AFP

A closely watched indicator of Chinese manufacturing turned positive for the first time in four months in August, HSBC said Thursday, in a sign of renewed strength in the world\'s second-largest economy. The banking group said the preliminary reading of its purchasing managers\' index (PMI) came in at 50.1 for the month, up from July\'s final result of 47.7, which was an 11-month low. The PMI tracks activity at China\'s factories and workshops and is a closely watched gauge of the health of the economy. A reading below 50 indicates contraction, while anything above signals expansion. The result was the highest in four months and suggested China\'s economy was stabilising, HSBC said. It brought the index back into expansion mode by the smallest of margins, and near the level of the most recent Chinese official assessment of manufacturing. Results announced earlier this month by the National Bureau of Statistics showed that official PMI rose to 50.3 in July from 50.1 in June. China is expected to announce the official August PMI on September 1. \"China\'s manufacturing growth has started to stabilise on the back of modest improvements of new business and output,\" Qu Hongbin, HSBC\'s chief economist for China based in Hong Kong, said in the bank\'s statement announcing the figure. He attributed the improvement to \"initial filtering-through\" effects of recent policy measures to boost the economy as well as restocking of inventories. \"We expect further filtering-through, which is likely to deliver some upside surprises to China\'s growth in the coming months,\" he added. Fears over China\'s economic outlook were rampant during the first six months of the year as growth slowed. Positive data for July, including an acceleration in industrial production to a five-month high, have helped improve sentiment that China\'s downtrend may have hit a bottom for the time being. Zhang Zhiwei, economist at Nomura International in Hong Kong, said the HSBC PMI result was \"driven by domestic demand\" and reflected recent strength in other indicators. \"It confirms that the economy has stabilised in the short term and downside risks\" for the year\'s second half have \"declined\", he said in a report. HSBC said it would announce final PMI results on September 2.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china manufacturing rebounds Arab Today, arab today china manufacturing rebounds

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china manufacturing rebounds Arab Today, arab today china manufacturing rebounds

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday