InfoAnda - Chinese manufacturing expands in July

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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Chinese manufacturing expands in July AP - Saturday, August 1 BEIJING - China's manufacturing expanded in July, a state-sanctioned index showed Saturday, as Beijing's massive stimulus spending helped boost growth in the world's third-largest economy. ADVERTISEMENT The China Federation of Logistics and Purchasing said its purchasing managers index rose 0.1 points from June to 53.3 on a 100-point scale where numbers above 50 show activity expanding. It was the fifth month in a row that the index has expanded. The National Bureau of Statistics compiles the index using data collected from purchasing and supply managers at more than 700 firms. Stimulus spending and an investment boom financed by a surge in lending by Chinese state banks helped to boost second-quarter economic growth to 7.9 percent from a year earlier, up from 6.1 percent the previous quarter. But Beijing has cautioned that a full-fledged recovery is not firmly established. Dong Tao, an economist at Credit Suisse, said in a research note that the figures do not have any significant impact on policy but show that China's economy is improving steadily, and the government is unlikely to tighten the supply of money before concerns over jobs and social stability lessen. The new business orders index was unchanged at 55.5, and new export orders index rose 0.7 percentage points to 52.1. New orders for infrastructure machinery were down slightly in the index, Tao said, indicating that infrastructure investment may have leveled off while investment in property construction is on the rise. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: China's Economy Housing could take another turn downward: GreenspanReuters - 2 hours 12 minutes ago China Everbright Sec to raise up to $1.6 bln in IPOReuters - 2 hours 55 minutes ago China steel output to grow despite falling demandAFP - Sunday, August 2 SKorea posts sixth straight surplusAFP - Saturday, August 1 Related Articles: Business Hyundai, Kia to offer incentives for jobless in S.KoreaReuters - Sunday, August 2 China steel output to grow despite falling demandAFP - Sunday, August 2 Philippine c.bank says domestic liquidity adequateReuters - Sunday, August 2 Tight credit could limit eurozone growth: analystsAFP - Sunday, August 2 Talks collapse at troubled SKorean auto firmAFP - Sunday, August 2 Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Comets probably won't cause the end of life as we know it: study Organic food not healthier, says British study Madonna writes of her spiritual awakening Beer flows as Obama tries to cool down a hot furor Obama: stimulus helped 'put brakes' on recession View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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