China’s manufacturing activity surges in July

china manufacturing

Chinese manufacturing activity increased sharply in July, rising at its fastest pace in more than two years, an official survey showed on Friday (August 1), as the world’s second-largest economy shows signs of increasing momentum.

The official purchasing managers index (PMI) hit 51.7 last month, the National Bureau of Statistics said in a statement. The figure was up from 51.0 in June, and the best since 53.3 in April 2012. It was also above the median 51.4 forecast in a survey of nine economists by The Wall Street Journal.

The index tracks manufacturing activity in China’s factories and workshops and is a closely watched indicator of the health of the economy. A reading above 50 indicates growth, while anything below points to contraction. China’s official PMI data came after British bank HSBC last week announced a jump in its survey to a preliminary reading of 52.0 for July, its highest since January 2013. The final figures are due out Friday.

Chinese economic growth accelerated to a higher-than-expected 7.5 per cent in the second quarter, up from 7.4 per cent in the previous three months, which was the worst since a similar 7.4 per cent expansion in July-September 2012. Chinese authorities have since April introduced a series of measures to bolster growth, including tax breaks for small enterprises, targeted infrastructure outlays and incentives to encourage lending in rural areas and to small companies.

China in March set its annual growth target for this year at about 7.5 per cent, the same as last year.

 

 

 

 

 

 

Source : Channel News Asia | August 1, 2014

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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