Chinese factory activity has beaten expectations once again, expanding for the fifth straight month and recovering at a faster pace, new data shows.
China’s closely watched manufacturing purchasing managers’ index (PMI) rose to 51.1 in July from 50.9 in June, hitting its highest level since March. This is higher than analysts predicted – those polled by Bloomberg had forecast it to remain at June’s level, while economists polled by Reuters expected it to ease to 50.7.
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