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Surveys give mixed China manufacturing picture

Chinese manufacturing new figures show that the world's second largest economy may still be slow.
An official survey showed a slight improvement in July, while another index fell to the lowest in nearly a year.
China Federation of Logistics and Purchasing said on Thursday, strengthening its manufacturing index rose from 50.1 to 50.3 in June.
The index uses a 100-point scale and numbers below 50 indicates contraction.
At the same time, a private survey found that activity fell to 11 months minimum.
HSBC purchasing managers' index fell to 48.2 in June from 47.7 last month. Readings confirmed the preliminary version released last month.
Analysts said that the Federation's survey mainly covers the large state-owned enterprises, while the HSBC survey is more suitable for small and medium private enterprises.
 



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