PMI turnaround lifts outlook
Updated: 2013-08-22 23:31
By CHEN JIA (China Daily)
|
||||||||
This improvement is consistent with headline activity indicators such as industrial production in July.
The National Bureau of Statistics showed a 9.7 percent year-on-year growth of industrial output in July, the highest level in five months.
"The August growth was mainly driven by the initial filtering through of recent fine-tuning measures and companies' restocking activities, despite continued external weakness," Qu said.
Zhu Haibin, chief economist in China with JPMorgan Chase and Co, does not expect any major significant stimulus measures because of the rebounding manufacturing sector.
"The government appears keen to selectively support infrastructure investment, including railways, urban basic facilities, as well as environmental and energy conservation industries, hinting at solid public sector fixed-asset investment growth in the coming months," Zhu said.
However, Standard Chartered Plc's chief Chinese economist Stephen Green expected only "a very gradual and fragile" recovery in the Chinese industrial sector in the coming months, based on his bank's prediction model covering new orders and finished-goods inventories.
"We expect the official and the HSBC PMIs to continue to hover between 50 and 53 in the coming months, with no dramatic improvement," he said.
The National Bureau of Statistics will release the official August PMI data on Sept 1. It focuses more on indicating the manufacturing situation of large and State-owned enterprises.
Most Viewed
Editor's Picks
Public opposition defuses nuke plans |
New study reveals corruption pattern |
Wild Africa: The new attraction to Chinese tourists |
Graduates hope to bust graft |
Growth driver |
Get ready for army roll call |
Today's Top News
Newly born panda cub at Washington zoo doing fine
Market regulators need to fix loopholes
Singapore PM aims to cement relations
Experts call for details on rumor cases
Joint sea drill shows improved relations
Bo insists he did not abuse power
UN to probe alleged chemical attack
Using stray cats for rat control sparks debate
US Weekly
Geared to go |
The place to be |