Official Manufacturing PMI Gets Boost From Inflation
The expansion of China’s manufacturing sector accelerated in August, as higher price pressure offset the impact of escalating trade tensions with the U.S., government data showed Friday.
The manufacturing purchasing managers’ index (PMI) for August inched up to 51.3, off a five-month low of 51.2 in July, according to the National Bureau of Statistics (NBS). This month’s reading beat a median forecast of 51 by a Bloomberg News poll of economists.
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