Unexpectedly positive figures from China
Mihir Kapadia, CEO and Founder, Sun Global Investments
Data from China continues to show the resilience of the economy and fears form about a year ago of a sharp slowdown in the rate of economic growth seem to have disappeared. The official manufacturing purchasing managers' index rebounded to 51.7 in August from July's 51.4. The index has been above the key 50 mark for an impressive 13 months. The official nonmanufacturing PMI fell to 53.4 in August from 54.5 in July as slower growth in Chinese property investment curbed construction activity. This suggests the government measures to tackle the bubble in property in beginning to have some impact.