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China PMI rises sharply, exceeds estimate

July manufacturing data signals economy is gaining momentum, driven by govt infrastructure investment including railways, subways

Published Fri, Aug 1, 2014 · 10:00 PM
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Beijing

CHINA's manufacturing expanded in July at the fastest pace in more than two years, signalling a pick-up in economic growth is strengthening amid government support policies.

The Purchasing Managers' Index (PMI) was at 51.7, the National Bureau of Statistics and China Federation of Logistics and Purchasing said on Thursday in Beijing, exceeding the median 51.4 estimate in a Bloomberg News survey and up from 51.0 in June. A separate PMI from HSBC Holdings plc and Markit Economics rose to an 18-month high of 51.7. Readings above 50 indicate expansion.

The data signal t…

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