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China’s Manufacturing Gauge Rises to Two-Year High
China’s manufacturing expanded in July at the fastest pace in more than two years, signaling a pickup in economic growth is strengthening amid government support policies. The Purchasing Managers’ Index (CPMINDX) was at 51.7, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing, exceeding the median 51.4 estimate in a Bloomberg News survey and up from 51.0 in June. Readings above 50 indicate expansion. Today’s report suggests the recovery in second-quarter gross domestic product is gaining momentum on the back of targeted stimulus policies to ensure growth ... (full story)