Official survey shows China manufacturing at highest in 27 months after mini-stimulus measures

Economic Indicators Associated Press

An official report says Chinese manufacturing rose to the highest level in more than two years in July.

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Friday's survey is the latest sign that the world's No. 2 economy is perking up after a series of mini-stimulus measures unleashed by authorities.

The purchasing managers' index compiled by the China Federation of Logistics and Purchasing rose to 51.7 last month from June's 51.0.

The index is based on a 100-point scale on which numbers below 50 indicate contraction.

It's the index's highest reading since April 2012 and follows an early version of a similar measure of factory activity by HSBC that rose to 52.

Communist leaders in Beijing have used small-scale stimulus in recent months to keep China's economy on track to meet its 7.5 percent full year growth target.