China’s economy is showing signs of stabilizing after slowing for two straight quarters, with official manufacturing and services indexes rising and gains in gauges of business expectations.
The non-manufacturing Purchasing Managers’ Index rose to 54.1 in July from 53.9, the first acceleration since March, government data showed Aug. 3, following last week’s unexpected gain in a manufacturing PMI. Readings above 50 indicate expansion. A services index from HSBC Holdings Plc and Markit Economics was unchanged at 51.3, a separate report showed today.
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