From Bloomberg:
Manufacturing activity in China expanded at the fastest pace in more than two years in April, according to a survey of purchasing managers released today.
The Purchasing Managers’ Index rose to 58.6 from 56.1 in March, the statistics bureau said in an e-mailed statement. That’s the highest since the index started in January 2005.
The People’s Bank of China has stepped up the pace of monetary tightening measures to curb lending and investment and cool growth in the world’s fourth-largest economy. The central bank raised interest rates on March 18 and has ordered lenders to set aside more money as reserves four times this year. [Full Text]
