July 24, 2012 at 08:40 AM EDT
HSBC China Flash PMI At 49.5, 5-month High
Markit reported the HSBC China Flash PMI increased to a 5-month from 48.2 in June to 49.5 in July. Manufacturing is still contracting but the reading shows the Chinese economy may be bottoming. Here’s Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC, “July’s headline PMI picked up modestly to a [...]
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