Man­u­fac­tur­ing out­put hits seven-month high

China Daily (Canada) - - NEWSCAPSULE -

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.

PRO­VIDED TO CHINA DAILY

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.

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