China's August export orders shake off COVID gloom, fuelling factory expansion: Caixin PMI

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China's August export orders shake off COVID gloom, fuelling factory expansion: Caixin PMI
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China's factory activity expanded at the fastest clip in nearly a decade in August, bolstered by the first increase in new export orders this year ...

China's factory activity expanded at the fastest clip in nearly a decade in August, bolstered by the first increase in new export orders this year as manufacturers ramped up production to meet rebounding demand, a private survey showed on Tuesday.

It beat analysts' forecasts for a slight dip to 52.6. The 50-mark separates growth from contraction on a monthly basis. The labour market also saw signs of improvement, with some companies increasing recruitment to meet production needs, although the gauge of employment continued to stay in negative territory for the eight straight month.

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