China Official PMI Hit a Three Month High

China’s factory activity in August may have expanded at the fastest pace in three months, a Reuters poll showed, adding to evidence that the world’s second-largest economy may be stabilizing after slowing for more than two years.

The median forecast of 12 economists polled by Reuters showed China’s official manufacturing managers’ index (PMI) in August may have risen to 50.6 from July’s 50.3.

A reading above 50 indicates expanding activity while one below it points to a contraction.

Beijing has stepped up efforts in recent months to prevent a sharp economic slowdown by quickening railway investment and public housing construction and introducing a series of measures to help smaller companies, which could sustain the revival of internal demand in the coming months.

via Reuters

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