Minggu, 01 September 2013

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China manufacturing at 16-month high

Worker at a steel factory in ChinaChina's manufacturing sector has been a key driver of its economic growth

China's manufacturing activity picked up speed in August, hitting a 16-month high, allaying some fears of a sharp slowdown in its economy.

The official Purchasing Managers' Index (PMI) rose to 51 from 50.3 in July.

The PMI is a key gauge of the sector's health and a reading above 50 indicates an expansion.

China, the world's second-largest economy, has taken various steps to boost its economy after its growth rate slowed for two quarters in a row.

"We are seeing clearer signs of economic conditions improving," said Haibin Zhu, chief China economist at JP Morgan in Hong Kong.



Source: BBC News - Business http://www.bbc.co.uk/news/business-23894483#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa