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| Friday, September 05, 2008 23:38:11 |
Purchasing-Manager index shows growth of manufacturing in China
Surveying more tan 700 enterprises in China, China's purchasing managers' index, a gauge of nationwide manufacturing activity, rose to 57.0 in September from 53.1 in August, the Wall Street Journal reported, citing the China Federation of Logistics and Purchasing.
Of the 11 subindexes that make up the PMI, 10 rose in September from August, while one, input prices, fell, according to a federation statement. A PMI above 50 indicates growth, while a reading below 50 indicates contraction, said the paper.
The sharp rise in last month's PMI signals a speeding of growth in coming months in China's manufacturing sector, but more monitoring needs to be done to see if economic activity is picking up again after slowing down recently.
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