China’s Aug manufacturing PMI posts strongest pace in nearly two years
The index for factory output rose to a reading of 52.2 from July’s 52.1, hitting the highest level this year while total new orders expanded sharply despite falling exports orders. An economist from Commerzbank AG reportedly commented that although many factories shut their plants due to the G20 Summit, China’s overall manufacturing activities improved probably on the back of improving growth momentum following the government’s monetary stimulus.
Meanwhile, the Caixin/Markit Manufacturing Purchasing Managers’ index (PMI), a private sector company focusing more on small and mid-sized firms, declined to a reading of 50 in August from 50.6 in July. According to Caixin, indexes of output and new orders declined from the previous month.
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