China's factories are seen reporting another solid month of surge in August

China's factories are seen reporting another solid month of surge in August

In August, China's factories reported another solid month of surge, suggesting the world's number two economy is still ascending at a healthy clip notwithstanding soaring financing costs as well as a cooling housing market, as a Reuters survey disclosed.

The official manufacturing Purchasing Managers' Index PMI is supposed to come in at about 51.3 for August, sliding a bit from July's outcome of 51.4, as a median forecast of 39 financial experts states.

It would stand for the 13th straight month of expansion for the country’s manufacturers, who are actually enjoying their best revenues in years due to a government-led construction boom as well as a revival in exports. By the way, the 50-mark divides contraction from expansion on a monthly basis.

Powered by strong infrastructure spending as well as record bank lending in 2016, China's economy ascended by a faster-than-expected 6.9% during the first half of 2017 and seems set to meet the government's full-year objective of nearly 6.5%.



This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target.


Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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