Beijing (Reuters) – Factory activity in China grew in August, the fastest increase in nearly a decade.
The reason for this is an increase in new export orders after the coronavirus restrictions have been relaxed worldwide, as a private survey showed on Tuesday. The purchasing managers index (PMI) for the Caixin / Markit manufacturing sector rose from 52.8 in July to 53.1 last month. This was the fourth consecutive month of growth and the highest rate of expansion since January 2011. It exceeded analysts’ forecasts for a slight decline to 52.6. The 50 mark separates monthly growth from contraction.