A Chinese manufacturing index rose in August from an 11-month low, adding to signs the world’s second-biggest economy is stabilizing.
The preliminary reading of 50.1 for a Purchasing Managers’ Index (EC11FLAS) released today by HSBC Holdings Plc and Markit Economics compares with a final figure of 47.7 in July. The number was higher than all 16 estimates in a Bloomberg News survey. A number above 50 indicates an expansion.
The benchmark Shanghai Composite Index (SHCOMP) was 0.1 percent higher at 10:08 a.m. local time after earlier falling as much as 0.5 percent. The nation will achieve the government’s 7.5 percent growth target this year even after a two-quarter slowdown, a Bloomberg News survey of economists indicates.
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