China Manufacturing Activity Expands at Fastest Pace Since February, Caixin PMI Shows

Activity in China’s manufacturing sector expanded in August at the quickest clip since February, with employment growing at the fastest pace in more than 13 years, a Caixin-sponsored survey showed Friday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the sector, rebounded to 51 in August from 49.2 the previous month. An index reading above 50 signals an expansion in activity, while a number below that indicates a contraction.