ID :
204691
Thu, 09/01/2011 - 12:51
Auther :
Shortlink :
https://oananews.org//node/204691
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China's manufacturing activity edges up in Aug.
By Kim Young-gyo
HONG KONG, Sept. 1 (Yonhap) -- China's manufacturing activity edged up in August after dropping for four consecutive months, soothing worries over a slowdown of the world's No. 2 economy, an industry group said Thursday.
The Purchasing Managers' Index (PMI) for China's manufacturing sector came in at 50.9 last month, up from 50.7 a month earlier, according to the China Federation of Logistics and Purchasing (CFLP). It was a rebound from the lowest figure in 29 months recorded the previous month.
The PMI is an indicator that measures the economic health of a country's manufacturing sector. A reading of 50 or above represents an expansion of the sector compared to the previous month while a reading lower than 50 represents a contraction.
The rise of the figure comes amid China's continued tightening policy.
In a battle against soaring inflation, the central People's Bank of China has raised the benchmark interest rate three times this year while increasing the amount of money banks must keep in reserves six times.
China's consumer prices surged 6.5 percent on-year to a 36-month high in July due to soaring food costs. The country's inflation gauge grew more than 5 percent for the fifth straight month and exceeded 6 percent for the second month in a row since July 2008.
HONG KONG, Sept. 1 (Yonhap) -- China's manufacturing activity edged up in August after dropping for four consecutive months, soothing worries over a slowdown of the world's No. 2 economy, an industry group said Thursday.
The Purchasing Managers' Index (PMI) for China's manufacturing sector came in at 50.9 last month, up from 50.7 a month earlier, according to the China Federation of Logistics and Purchasing (CFLP). It was a rebound from the lowest figure in 29 months recorded the previous month.
The PMI is an indicator that measures the economic health of a country's manufacturing sector. A reading of 50 or above represents an expansion of the sector compared to the previous month while a reading lower than 50 represents a contraction.
The rise of the figure comes amid China's continued tightening policy.
In a battle against soaring inflation, the central People's Bank of China has raised the benchmark interest rate three times this year while increasing the amount of money banks must keep in reserves six times.
China's consumer prices surged 6.5 percent on-year to a 36-month high in July due to soaring food costs. The country's inflation gauge grew more than 5 percent for the fifth straight month and exceeded 6 percent for the second month in a row since July 2008.
