| Manufacturing momentum maintained |
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| Thursday,September 03,2009 Posted: 19:57 BJT(57 GMT) |
| From:xinhuanet Article type:Translated |
China's vast manufacturing sector continued its steady recovery in August, fuelling optimism that a brighter future for economic growth awaits than has been suggested by China's gloomy stock market.
The good news was flagged in an influential index on Sept. 1.
The index, compiled through the polling of executives in charge of purchasing materials, rose to a 16-month high as companies continued to benefit from the government's 4-trillion-yuan ($585 billion) stimulus package.The purchasing managers' index (PMI), compiled by the China Federation of Logistics and Purchasing (CFLP), rose to the high in August, hitting 54.0 following July's 53.3. Output, new orders, imports and employment were all strong.
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