China manufacturing could help avoid 'hard landing'

NEW YORK (CNNMoney.com) -- China's manufacturing sector rebounded in August, calming some fears about the pace of that country's growth.
"China's latest [manufacturing numbers] provide tentative evidence that the economic slowdown is bottoming out," said Mark Williams, senior China economist at Capital Economics, in a research note.



China's Federation of Logistics and Purchasing said its reading in August rose to 51.7, up half a percentage point from July. HSBC's reading hit a three-month high of 51.9 in August. Any figure above 50 indicates expansion.
HSBC was also upbeat in its outlook for the coming months, thanks to 100,000 infrastructure projects, increased public housing construction and other development plans.
Williams said the reports signaled a "receding threat of [a] hard landing," though the pace of growth remains weak.