Manufacturing in July hits two-year high
China’s manufacturing activity reached its highest level in more than two years in July, reinforcing signs that the economy is firming up on government support policies.
The purchasing managers’ index rose to 51.7 in July, up from 51 in June, according to data released on Friday by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
The stronger-than-expected growth marked the fifth monthly recovery of the PMI, a widely watched indicator for the health of the world’s second-largest economy.
The data is also in line with the HSBC final PMI reading of 51.7, which better reflects the performance of smaller businesses.