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China Manufacturing Gauge Tops Estimates in Support for Growth
A Chinese manufacturing gauge topped estimates this month, suggesting targeted stimulus is helping the economy withstand a property slump. The preliminary Purchasing Managers’ Index from HSBC Holdings Plc and Markit Economics was at 50.5, compared with the median estimate of 50 in a Bloomberg News survey of analysts and August’s final reading of 50.2. Numbers above 50 indicate expansion. Measures of new orders and new export orders increased at a faster rate, the report showed. Improvement at factories will ease pressure for more loosening on top of measures including liquidity injections and expedited spending ... (full story)