BEIJING, Sept 30 — China’s factory activity expanded for the first time in six months in September, an official survey showed today, adding to a run of indicators suggesting...
BEIJING, Sept 30 — China’s factory activity expanded for the first time in six months in September, an official survey showed today, adding to a run of indicators suggesting the world’s second-largest economy has begun to bottom out.
Preliminary signs of improvement had emerged in August, with factory output and retail sales growth accelerating while declines of exports and imports narrowed and deflationary pressures eased. Profits at industrial firms posted a surprise 17.2 per cent jump in August, reversing July’s 6.7 per cent decline.
The composite PMI, including manufacturing and non-manufacturing activity, climbed to 52.0 in September from 51.3. New home prices fell the fastest in 10 months in August and property investment declined for an 18th straight month.
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