China’s factory growth data calms investors’ nerves

Aug 31, 2017, 4:34 AM EDT
(Source: Matt/flickr)
(Source: Matt/flickr)

Global investors breathed a sigh of relief on Thursday after data showed that China’s manufacturing sector picked up steam in August, posting an expansion for 13th straight month.

PMI, the 100-point index, rose from 51.4 in July to 51.7 in August, showing an unexpected upturn in the world’s second-biggest economy, writes The Seattle Times.

The PMI figures, along with steady Q2 growth and job data from the U.S., came as a much-needed boost for global investors rattled by a tumultuous week after North Korea tensions, notes The Guardian.