Manufacturing up in China and UK

The manufacturing sectors of both China and the UK have expanded in August, according to the latest economic data.

It was revealed by the Markit/Chartered Institute of Purchasing and Supply (CIPS) purchasing managers' index (PMI) that the UK recorded its strongest growth in activity for two and a half years in August.

The report showed a figure of 57.2 – the highest it has reached since February 2011 and the fifth month in a row the sector has expanded.

China's PMI showed that there was a rise to 51 from 50.3 in July, which Haibin Zhu, chief China economist at JPMorgan in Hong Kong, noted is a sign the country's economy is on the up.

There had been concerns of an economic slowdown in China after data suggested a lack of momentum for sectors such as manufacturing, but the slide seems to have been arrested.

Mr Haibin said "the recent shift in the policy stance and more concrete policy announcement" has helped to boost the Chinese economy in the last few weeks.

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