China’s official manufacturing purchasing managers’ index rose to 50.2 from 49.7 in August, the first time it has indicated expansion since March, according to the National Bureau of Statistics on Saturday. A PMI reading above 50 indicates growth or expansion, while any reading below represents a contraction. Activity in services and construction also accelerated last month, according to a separate index that hit 51.7, its best level in three months.
Recent data have shown signs of stabilization after the government intensified efforts to spur consumer spending and accelerate infrastructure projects. Profits at industrial firms jumped 17.2% in August, reversing a 6.7% drop in July, according to data published by the NBS last week. Industrial production also increased 4.5% in August from a year earlier, accelerating from the 3.7% growth registered in July. Retail sales rose 4.6% in August, the fastest growth since May.