Caixin China Manufacturing PMI Hits Over Nine-Year High

Manufacturing activity in China continued to recover from the fallout of the Covid-19 pandemic in July as businesses reported the fastest expansion of output and new orders since January 2011.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, rose to 52.8 from 51.2 in June, reaching the highest since January 2011, a report released Monday showed. A number above 50 signals an expansion in activity, while a reading below that indicates a contraction.