HSBC China's reading of the country's manufacturing purchasing managers' index (PMI) has risen to its highest point since the start of 2013, adding to signs of national economic improvement.
HSBC's flash PMI figure for July is 52 points, up from 50.7 for June and 49.4 for May and higher than all HSBC final readings since January 2013, the bank announced on Thursday.
The improvement was broad-based with both new orders and new export orders expanding at a faster pace than in June, and sub-indices for employment and prices also improved.
"Economic activity continues to improve in July, suggesting that the cumulative impact of mini-stimulus measures introduced earlier is still filtering through. We expect policy makers to maintain their accommodative stance over the next few months to consolidate the recovery," HSBC said.
China‘s non-manufacturing PMI drops in June
2014-07-04Official PMI drops but still indicates expansionary activity
2014-07-03China‘s non-manufacturing PMI drops in June
2014-07-03China‘s June PMI shows economy stabilizing
2014-07-01China‘s June PMI at six-month high
2014-07-01China‘s non-manufacturing PMI rises in May
2014-06-04Service PMI posts best record in 6 months
2014-06-04Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.