China's massive manufacturing industry unexpectedly expanded last month, according to a closely watched private survey. But the country's economic outlook is still cloudy as the US-China trade war intensifies.
The sector posted the fastest increase in production in five months, according to a survey released Monday by the media group Caixin. The purchasing managers index jumped to 50.4 in August, rising above the 50-point level that indicates growth compared with the previous month.
The important gauge beat the estimates of analysts polled by Reuters, who expected a slight decline. It's also better than the contraction in activity that official government figures released over the weekend showed.