Manufacturing output hits seven-month high
A manufacturing gauge for June has hit a seven-month high, indicating that progress has been made in stabilizing the world’s second- largest economy thanks to modest policy measures, analysts said.
The preliminary reading of the HSBC/ Markit Economics Purchasing Managers Index for this month was 50.8, the highest figure since November, compared with a final reading of 49.4 in May. A figure above 50 indicates expansion.
“This month’s improvement is consistent with data suggesting that the authorities’ mini-stimulus is filtering through to the real economy,” said Qu Hongbin, chief economist for China at HSBC.
Qu said much of the recovery was driven by domestic consumption.
Yang Yang, a cloned goat, sports garlands to celebrate its 14th birthday in the cloned-animal base at northwest Agriculture and Forestry University in Yangling, Shaanix province, on Sunday.