Chinese Industry in August recorded its best finish in 16 months
BEIJING .- The Purchasing Management Index (IGC) of China, an indicator that shuffles data such as production and orders for domestic manufacturers, in August reached its highest rate in 16 months with 54 points, informed the Chinese Federation Logistics and Purchasing.
This is the sixth consecutive month of growth in Chinese IGC after it reached its lowest level in November, with 40.9 points and was growing slowly up to 53.3 in July.
The index, created by the National Bureau of Statistics of China, indicates expansion of the industry when it is above 50 points and contraction when below that level.
Chinese manufacturing has made China the world’s largest exporter, ahead of Germany, according to August data from the World Trade Organization (WTO), so that the crisis has severely affected this sector due to reduced export demand for the United States, Europe or Japan.
As a result, the sector lost 20 million jobs trabajo.El IGC includes subscripts such as procurement, which increased 2.7 percentage points in August, to 62.6, the ninth month of increase since December.
The production subindex was in August of 57.9 points, an increase of 0.6 percentage points from the previous month, while new orders rose to 56.3 points last month, which is 0.8 points cent more than in July.
As for exports, new orders stood at 52.1, the same percentage as in July, suggesting that Chinese industry is improving thanks to the massive rescue package of $ 586,000 million (408,000 million) released in November by the Chinese executive.
The subscript for further imports in August rose 2.4 percentage points over July to 51.3.
Chinese economists quoted by the Xinhua news agency report that the outcome of the IGC in August indicates that the country’s growth rate will remain, but warn that there are still uncertainties about the economic recovery.
Gross Domestic Product (GDP) Chinese grew in the second quarter by 7.9 percent, according to official figures, close to the target for this year’s 8 percent, and far from 6.1 in the first quarter, the data more lowest since 1992.
