China’s Economy Is Bouncing Back As PMI Beats Expectations ...Middle East

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China’s Economy Is Bouncing Back As PMI Beats Expectations
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The much anticipated January reading for China’s purchasing managers’ index has confirmed expectations that Asia’s powerhouse is back into growth mode, beating analyst expectations and topping 50. At 50.1, the official manufacturing PMI reading is above the line that separates growth from contraction and compares with analyst expectations of a reading below 50, at 49.8, per a Reuters poll. In services, the Chinese economy was doing even better, with the January PMI reading at 54.4, compared with expectations of 52. A separate…

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