Improving PMI numbers reflect momentum of economic recovery
By Wang Yiqing | China Daily | Updated: 2016-09-02 09:01
China's official Purchasing Managers Index for manufacturing returned to expansionary territory in August, hitting its highest point since November 2014, indicating solid economic recovery.
The PMI in August registered at 50.4, compared with 49.9 in July and 49.7 a year ago, the National Bureau of Statistics said on Thursday.
The index is a leading gauge of manufacturing activity. A reading above 50 indicates expansion in the manufacturing sector while below 50 means contraction.
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