China’s official manufacturing PMI rises in August

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China’s manufacturing activity strengthened in August, official figures showed Sunday, the latest data to suggest that the world’s second-largest economy is stabilising.

The official purchasing managers’ index (PMI) rose to 51.0 last month from 50.3 in July, according to figures released by the National Bureau of Statistics.

The index tracks manufacturing activity in China’s factories and workshops and is a closely watched gauge of the health of the economy. A reading below 50 indicates contraction, while anything above signals expansion.

The PMI strengthened for the second straight month and comes as other recent data have spurred optimism a slowdown in the economy may have been stemmed.

The first half of this year saw a spike in analyst concerns after an expected rebound from the worst growth performance in 13 years failed to materialise.

China’s economy grew 7.8 percent in 2012, the weakest result since 1999.

Growth in the first three months of the year dipped to 7.7 percent from 7.9 percent in the final quarter of last year and slowed further to 7.5 percent in the three months through June.

British banking giant HSBC said last month that the initial reading of its PMI survey for August came in at 50.1, rebounding from an 11-month low and marking the first time since April the indicator had expanded.

Source : Channel News Asia | September 1, 2013

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About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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