China PMI back in positive territory
Data on the HSBC China PMI showed an increase of activity in the huge factory sector as the index is back into positive territory. Economic stimulus by the People's Bank of China and economic recovery in the U.S. seem to lend support.
The HSBC Manufacturing PMI rose from 49.7 to 50.1 to a four month-high, above the estimated reading of 49.6. A reading above 50 represents growth in activity. Readings of output and new orders both improved.
Domestic demand firmed while new export orders contracted for the first time since April 2014. Employment declined for a sixteenth consecutive month as companies reduced staff as a consequence of the economic slowdown.
The world's second largest economy grew at the slowest pace in 24 years in 2014.
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