China’s HSBC manufacturing purchasing managers' index (PMI) was registered at 50.1 in August this year, as compared to 47.7 posted in July. According to Qu Hongbin, HSBC's chief China economist, the HSBC PMI improvement during the period was driven by infrastructure and construction, as the government increased investments in railways and subway systems and stepped back from its attempts to cool the property sector.
The HSBC PMI recorded modest improvement in various areas, like increased backlogs of work to be done and decreased inventories of finished goods during the period, signifying that production lines are running closer to full speed. The input costs expanded during the period, registering the first increase since February this year.
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