China Manufacturing Quickens From Weakest Since 2009

Sept. 1 (Bloomberg) -- Manufacturing in China grew at a faster pace in August after the weakest performance since early 2009 in July, signaling that the economy’s slowdown is stabilizing.

The purchasing managers’ index rose to 51.7 from 51.2, exceeding forecasts, a government-backed report showed. Seasonal factors might have had an effect because the index typically gains as factories restart following July maintenance, Mizuho Securities Asia Ltd. said. A separate PMI released by HSBC Holdings Plc and Markit Economics gained to 51.9 from 49.4.

Stocks in Asia advanced after the release offered reassurance that China’s moderation in growth isn’t deepening; any steeper slowdown in China would hurt a global recovery already hindered by elevated American unemployment. Signs of faster gains in prices in the report also underscored the need for policy makers to be on guard against inflation.

“China’s economic activity is decelerating, albeit gradually, on the way to realizing a soft landing,” said Shen Jianguang, an economist at Mizuho in Hong Kong. “Investment and production are decelerating less than feared.”

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this is the strong evidence to prove that China economy has become the 2nd economy after USA. I'm very happy when China has so many improvement in many aspects.

 

Good news for the global economy for sure. The world needs China to hold their own in this environment. Right now a shitty Chinese economy = shitty world economy.