China's Aug factory activity picks up unexpectedly

BEIJING : China's factory activity surprisingly returned to expansion in August, a private-sector survey showed on Friday, with supply, domestic demand and employment improving, suggesting official efforts to revive growth might be having some effect.The Caixin/S&P Global manufacturing purchasing managers

BEIJING : China's factory activity surprisingly returned to expansion in August, a private-sector survey showed on Friday, with supply, domestic demand and employment improving, suggesting official efforts to revive growth might be having some effect.

The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China. The upturn in sales contrasts with deepening declines in new export orders, suggesting stronger domestic demand was the main source of growth.

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