The HSBC Flash China Manufacturing Purchasing Managers' Index rose in August to 50.1, its highest in four months, as new orders rebounded. That was an encouraging turnaround from July's 47.7 reading, the weakest in 11 months. Any number over 50 means activity is expanding; below 50 represents a contraction.
Economists cheered the survey result as evidence that government efforts to arrest a rapid slowdown were starting to work, while cautioning that a strong rebound still appeared unlikely.
Beijing has launched a series of targeted measures recently to support the economy, including scrapping taxes for small firms, offering more help for ailing exporters and accelerating investment in urban infrastructure and railways.
A sub-index measuring new orders rose to a four-month high of 50.5 in August from 46.6 in July. The employment sub-index of the flash PMI also picked up, but still hovered below the 50 watershed line. But a sub-index on new export orders edged lower -- a reminder that global demand for Asia's exports remains sluggish.
Source: Reuters
A sub-index measuring new orders rose to a four-month high of 50.5 in August from 46.6 in July. The employment sub-index of the flash PMI also picked up, but still hovered below the 50 watershed line. But a sub-index on new export orders edged lower -- a reminder that global demand for Asia's exports remains sluggish.
Source: Reuters
