Chinese manufacturing gauges pointed to weakness in the world’s second-biggest economy that could prompt the Communist Party leadership to roll out additional support measures.
China’s manufacturing expanded and input costs climbed, underscoring the case for more interest- rate increases to tame inflation pressures in the fastest- growing major economy.
Manufacturing strengthened from China to South Korea last month in a sign that growth risks are abating in Asia and expansion may pick up this quarter.
A Chinese manufacturing gauge slipped to a four-month low in December, underscoring challenges for President Xi Jinping as he tries to sustain economic momentum while rolling out reforms.
China’s yuan posted its best weekly gain since May after the government said it will prevent economic growth from dipping below 7 percent as data showed manufacturing contracted further in July.
Two Chinese manufacturing indexes showed a slower-than-estimated pace of expansion, a signal the nation’s economic recovery may be losing steam.
Crude oil climbed to the highest in four days as increased profit forecasts drove Asian equities higher and investors grew more optimistic that China’s growth will bolster fuel demand.
China’s manufacturing grew at the slowest pace in 17 months in July as the government clamped down on property speculation and investment in energy-intensive and polluting factories.
China’s manufacturing growth slowed more than economists forecast in June, adding to signs that the world’s fastest-growing major economy is cooling.
"Western China holds enormous potential for automakers as incomes rise and more people can afford cars."
- Zhang Liqun on Apr 21, 2013