From Bloomberg:
A Chinese manufacturing index climbed to a one-year high in July as stimulus spending stoked domestic demand, countering a slump in exports.
The CLSA China Purchasing Managers’ Index rose to a seasonally adjusted 52.8 from 51.8 in June, CLSA Asia-Pacific Markets said today in an e-mailed statement. That was the fourth monthly expansion.
A government-backed manufacturing index released Aug. 1 also showed manufacturing expanded as record lending and a 4 trillion yuan ($585 billion) stimulus package drove an economic rebound. China may overtake the U.S. as the world’s largest manufacturer by 2015 as a recession cuts production in the U.S., according to economics forecaster IHS Global Insight.
