Private survey shows China’s manufacturing sector grew in August at fastest pace in nearly 10 years

NewsColony
Private survey shows China’s manufacturing sector grew in August at fastest pace in nearly 10 years

Results of a private survey on Tuesday showed China’s manufacturing activity expanded in August at the fastest pace in nearly a decade.

The Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) came in at 53.1 for August, compared to 52.8 in July.

Economists polled by Reuters had expected Caixin/Markit manufacturing PMI to come in at 52.7.

PMI readings above 50 indicate expansion, while those below that level signal contraction. The readings are sequential and indicate on-month expansion or contraction.

The expansion in August was the fastest since January 2011, Caixin and IHS Markit said in their joint report.

“Manufacturing demand and supply continued to recover, and overseas demand started to pick up,” wrote Wang Zhe, a senior economist at Caixin Insight Group.

In August, “the subindices for output and total new orders again hit their highest levels since January 2011.” The gauge for new export orders also entered expansionary territory for the first time this year, as the coronavirus outbreak slowed overseas, added Wang.

China’s manufacturing sector has been battered as factories temporarily shut earlier this year due to large-scale lockdowns to contain the coronavirus pandemic. Global demand was also hit as the virus spread around the world.

But recent data show signs of China’s economy recovering from the pandemic.

On Monday, China’s National Bureau of Statistics reported that official manufacturing PMI for the month of August came in at 51.0, slightly missing analysts expectations for a 51.2 reading.

The official PMI survey typically polls a large proportion of big businesses and state-owned companies. In comparison, the private Caixin and IHS Markit survey features a bigger mix of small- and medium-sized firms.

This is breaking news. Please check back for updates.

Source: Cnbc

The post Private survey shows China’s manufacturing sector grew in August at fastest pace in nearly 10 years appeared first on NewsColony.
NewsColony

source https://newscolony.com/private-survey-shows-chinas-manufacturing-sector-grew-in-august-at-fastest-pace-in-nearly-10-years/

Comments

Volunteers book hotel room for homeless man with SingapoRediscovers vouchers

NewsColony Volunteers book hotel room for homeless man with SingapoRediscovers vouchers © The Independent Singapore Singapore — A group of volunteers from the Mummy Yummy Singapore welfare organisation donated their SingapoRediscovers Vouchers to book a hotel room for a homeless man. The man, who was identified as Jayden, did not have a place to live while waiting for the Housing Board (HDB) to allocate him a rental flat. In a Facebook post on Mummy Yummy Singapore’s page on Wednesday (Dec 16), the volunteers said: “We used our $100 Rediscover Singapore vouchers to redeem hotel stay for him and successfully booked 9 days worth of stay at 3 days per voucher.” They added that they were unable to book a longer stay because of higher hotel rates over Christmas and New Year. The volunteers hoped that they would be able to bridge Jayden’s stay until he got a flat. “Thanks our government for giving us these vouchers which in return we can put them to good use for people in need,” th...

Disabled people are still vulnerable, even as COVID-19 normalizes their ‘special’ needs

Disabled people are still vulnerable, even as COVID-19 normalizes their ‘special’ needs NewsColony Perhaps it’s appropriate that public notices of the COVID-19 crisis began as an ableist cruelty. Health officials assured the nation that only the elderly and those with chronic health conditions would be seriously affected; most Americans (i.e., the normal people) would have only mild symptoms and be fine. x A friendly reminder: people who will be high-risk patients if we get coronavirus can hear you when you reassure everyone we’re the only ones who might die. Ã¢Â€Â” Alexandra Brodsky (@azbrodsky) February 29, 2020 Soon after the announcement of those assurances, the likelihood of high-risk people surviving was further limited by the people more likely to be fine. Shopping frenzies cleared stores of essential supplies needed everyday by many disabled people, like thermometers, hand wipes, masks, and IV infusion supplies. Accustomed to their needs ...

Coronavirus UK: BBC makes changes to ‘lift people’s spirits’

Coronavirus UK: BBC makes changes to ‘lift people’s spirits’ NewsColony BBC viewers have been warned that ‘things will look and sound a bit different’ during the coronavirus crisis. In a blog post on the corporation’s website, BBC News Chief Fran Unsworth outlined a number of changes its newsroom was making in light of the ‘rapidly evolving situation’. Among the changes, presenters will doing their own make-up, many interviews will be conducted remotely and the BBC will rely more on its network of local reporters, Ms Unsworth explained. TV veterans Mr Motivator and Angela Rippon have also signed up for a new BBC One show to lift people’s spirits during the pandemic. HealthCheck UK Live, with Watchdog’s Michelle Ackerley and CBBC star Dr Xand van Tulleken will air every weekday for two weeks. TV veterans Mr Motivator and Angela Rippon have also signed up for a new BBC One show to lift people’s spirits during the pandemic HealthCheck UK Live, with Wa...

NewsColony

Search This Blog