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China’s official PMI suggests that growth momentum has accelerated
August 31, 2013
BEIJING - China’s August official Purchasing Manager’s Index (PMI) has risen for a second consecutive month to 51.0, up from July’s 50.3, indicating that growth momentum has accelerated thanks to faster implementation of the fiscal programme and “mini stimulus” initiated by the new Government. ANZ Bank says its calculations show that 58% of China’s full-year budget will be spent in the second half.