China: Manufacturing activity continues to improve

Both China’s manufacturing PMIs improved further, suggesting that the recovery in industrial production continues in Asia. Growth in industrial production is currently around 6% q/q, implying GDP growth of around 12% q/q AR. GDP growth is likely to slow slightly but remain above potential for the rest of the year. Details Both of China’s manufacturing PMIs improved further in August but the picture was a bit mixed. The official manufacturing PMI released by the National Bureau of Statistics