China's manufacturing sector managed to stay in expansion phase in July, according to official government data, defying forecasts of a contraction.
Official manufacturing Purchasing Managers' Index (PMI) rose to 50.3 in the month, from 50.1 in June. The key 50 threshold demarcates expansion from contraction.
Sentiment: Strong Buy
China has reaffirmed they will grow GDP by by 7.5% even while rebalancing their economy with emphasis on services to secure future sustainable growth rates.
With Obama now permanently holding US GDP below 2%, it won't be long before China overtakes the U.S. as the #1 global power, while the US drowns in an ocean of debt, entitlements, and high taxes. S.
HSBC PMI at 47.7 more of a small business gauge but down in the dumps. Yeah china is rip roaring at 50.3 LOL. More of the same. Only hope now is stimulus which wont come.