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ECONOMY
THIS WEEK> THIS WEEK NO. 33, 2014> ECONOMY
UPDATED: August 11, 2014 NO. 33, AUGUST 14, 2014
Strong Recovery
Share

China's manufacturing activity quickened to its highest level in more than two years in July, reinforcing signs that the economy is firming up owing to government support policies.

The purchasing managers' index (PMI) of the manufacturing sector rose to 51.7 in July, up from 51 in June, according to data released on August 1 by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The stronger-than-expected data marked the fifth monthly recovery of the PMI, a widely watched indicator of the health of the world's second largest economy.

NBS statistician Zhao Qinghe attributed the strength to government policies designed to stabilize growth and the continuously improving external environment, which helped boost production and new orders.

On the other side, business activity in China's non-manufacturing sector slightly slowed in July.

The PMI of the non-manufacturing sector came in at 54.2 in July, down 0.8 percentage points from June, according to a report jointly released by the NBS and CFLP.

The non-manufacturing PMI tracks activity in sectors including construction, software, aviation, railway transport and real estate. July's reading marked the lowest level in six months, but still well above the 50 threshold that demarcates expansion and contraction.

Notably, the property market remained weak, with the business activity, new orders and price indices for the sector all dipping below the 50-percent demarcation.

Cai Jin, Vice Chairman of the CFLP, said the slight fluctuation of the indices showed the market is generally stable.



 
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