Latest PMI data signalled a solid improvement in the health of China's manufacturing sector in July, as market conditions continued to recover from the coronavirus disease 2019 (COVID-19) outbreak. Companies registered the quickest expansions of output and new orders since January 2011 amid reports of firmer customer demand. New business from overseas meanwhile fell at the slowest rate for six months. Increased production led to the strongest rise in purchasing activity since January 2013. However, firms maintained a cautious approach to hiring, with staff numbers falling modestly despite an increase in backlogs of ... (full story)