Wednesday, September 1, 2010

Chinaustralia Economy Jumps

Bloomberg details:

Manufacturing in China grew at a faster pace in August after the weakest performance since early 2009 in July, signaling that the economy’s slowdown is stabilizing. The purchasing managers’ index rose to 51.7 from 51.2, exceeding forecasts, a government-backed report showed.
Not surprising that news was strong out of Australia (per the AP):
Investors were also cheered by figures showing that Australia's economy grew a seasonally adjusted 1.2 percent in the April-June quarter as demand from China and elsewhere in Asia boosted exports of iron ore and other commodities. The rise, the highest for three years, was more than the 0.9 percent anticipated in the markets.


Source: Haver