Growth in the Chinese manufacturing sector was recorded for the third successive month in June, according to the headline CLSA China Manufacturing PMI, which rose to 51.8, from 51.2 in the previous month, “its highest level since July 2008.”
The June CLSA Index also reveals that production levels at Chinese manufacturers increased for the third successive month, “largely reflecting gains in new business and an improvement in economic sentiment.”
Output growth was “solid, and the strongest for a year,” while June “was the third straight month in which firms’ order books have improved, following a period of contraction that lasted eight months.” Manufacturing employment “posted a marginal rise,” following stagnation in the previous month.
CLSA add that: “There were widespread reports that rising output requirements and new order volumes had encouraged firms to take on additional workers.”
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Hmm. Is it true?