China's manufacturing expands

Source: Bloomberg
China's manufacturing gauge increased in July at the fastest pace in nearly two years, showing that economic growth is getting stronger. PMI was at 51.7, exceeding expectations of 51.4, while a gauge for smaller manufacturers in China's PMI went above 50, which was last seen in March 2012. As growth is seen stabilizing, the government will be able to pay more attention to the reform agenda during this year's second half.
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