China's economic expansion continues for sixth month
China's Federation of Logistics and Purchasing stated the purchasing managers’ index (PMI) for China’s non-manufacturing sector remained stable at 60.1% in Aug-2010, compared with Jul-2010 (Xinhua, 03-Sep-2010). A PMI of above 50% indicates economic expansion while a PMI of below 50% indicates economic contraction. China’s Aug-2010 PMI is the sixth consecutive month the country’s PMI is above 50%.
China Federation of Logistics and Purchasing: “The non-manufacturing PMI remained at a high level in August, which reflects the steady performance of the construction and service sectors," Cai Jin, Deputy Chairman. Source: Xinhua, 03-Sep-2010.