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ECONOMICS COMMENTARY
Aug 07, 2014
Chinese manufacturing upturn offset by stagnation in services
The HSBC/Markit China PMI surveys pointed to the third successive monthly expansion of output in July, a return to growth which adds to the likelihood of the economy hitting the government's 7.5% GDP growth target for the year. However, the expansion in July was largely driven by goods exporters, and it remains possible that the authorities may need to step up their stimulus measures again amid signs that the domestic economy is losing momentum.
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