Survey: China manufacturing stabilizes in August

Survey finds China manufacturing steady in August, latest sign economy is stabilizing

Associated Press

HONG KONG (AP) -- A private survey shows Chinese manufacturing activity held steady last month, adding to signs that the slowdown in the world's No. 2 economy is stabilizing.

The HSBC purchasing managers' index released Monday rose to 50.1 in August, indicating conditions were relatively unchanged.

The index uses a 100-point scale on which numbers below 50 indicate contraction.

China's manufacturing had shrunk for the three previous months, falling to an 11-month low in July, according to the index.

HSBC's economist said output and new orders expanded although the growth rate was slight.

The report confirms a preliminary version of the survey released last month. It comes a day after an official survey showed manufacturing expanded for the second month in a row to the highest level in a year.

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