Man­u­fac­tur­ing in July hits two-year high

China Daily (Canada) - - NEWSCAPSULE -

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.

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