Rising export sales push China’s manufacturing activity to near 10-year highs

China’s manufacturing

China’s manufacturing sector expanded again last month at the fastest pace since 2011 thanks to sharp increases in both output and new orders, and a boost in export sales, unseen since last year.

The Caixin/Markit manufacturing purchasing managers’ index (PMI), published one day after Beijing released its official gauge of factory activity, rose to 53.1 in August from 52.8 in July. The reading was above analysts’ forecasts, as those polled by Bloomberg and Reuters expected the index to finish the summer at 52.5 and 52.6 correspondingly. The 50-threshold separates growth from contraction.

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