China’s economic slowdown may be stabilizing after manufacturing and services surveys showed faster expansion and gauges of business expectations rose.
The non-manufacturing Purchasing Managers’ Index showed the first acceleration since March, government data released Aug. 3 showed, following an unexpected gain in the official manufacturing PMI last week. HSBC Holdings Plc and Markit Economics will release a China services index today.
The reports may bolster confidence that Premier Li Keqiang’s policies are helping prevent a deeper slowdown in economic growth, allowing him to pursue reforms that will secure more sustainable longer-term expansion. The country’s economic planning agency said yesterday the construction of transport-related infrastructure projects will be accelerated, adding to government efforts to boost domestic demand that have included changes to the tax system and help for small companies.
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