BEIJING (AP) — A closely watched survey on manufacturing in China has edged into positive territory, the government statistics agency said Thursday.
The Purchasing Managers’ Index rose to 50.1. A reading above 50 indicates an improvement over the previous month. It was the first improvement after five straight months of decline.
The rise follows the central bank’s announcement of a series of steps to boost the economy in late September. Investors and business owners are waiting to see if the government approves additional stimulus measures for the economy at a meeting of China’s top legislative body next week.
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