China factory growth fastest in three months
Central bank may hold off on further monetary policy tightening
Beijing
CHINA'S factories grew at the quickest pace in three months in June, buoyed by strong new orders in a sign of stabilising growth, though analysts expect a further slowdown in the world's second-biggest economy is inevitable as Beijing cracks down on debt risks.
The surprising strength in the vast manufacturing sector defied expectations for a cooling, thanks to robust external demand that underscored why global central banks were confident enough to switch gears to a more hawkish stance.
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