Chinese industry strongly rebound and full of optimism
...which may be premature for the rest of the world
Activity in the large Chinese industry grew again in July, to the highest level since early 2011. Figures from Markit and Caixin research bureaus report the data.
The Purchasing Manager Index, which reflects business activity, reached a level of 52.8 for last month compared to 51.2 a month earlier. A stand of 50 or more indicates growth, below it indicates shrinkage. The median level of expectation by economists was 51.1.
Experts point out that overseas demand gives a strong boost to the recovery of Chinese industry. The data of Markit and Caixin are in line with the official procurement management data of the Chinese government.