China's manufacturing activity hit a four-month high in August due to a rebound in new orders, preliminary results of a business survey by Markit Economics and HSBC Ltd., showed Thursday. The HSBC final China Manufacturing Purchasing Managers Index (PMI), a gauge of nationwide manufacturing activity, rose to 50.1 percent in August, up from July's final reading of 47.7 percent. The PMI marked the strongest growth since May 2011 and the fourth straight month-on-month expansion. A PMI reading above 50 percent indicates growth from the previous month, while a reading below 50 represents contraction in China's manufacturing sector. The index, which is a closely watched barometer of the health of the Chinese economy, marked an 11-month low last month. "China's manufacturing growth has started to stabilize on the back of modest improvements of new business and output," HSBC Chief Economist for China Qu Hongbin said in an accompanying statement. "This is mainly driven by the initial filtering through of recent fine-tuning measures and companies' restocking activities, despite the continuous external weakness," Qu said. China's economy expanded 7.5 percent year-on-year in the second quarter, further slowing from 7.7 percent growth in the first quarter.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor