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Chinese Manufacturing Index Is Near 29-Month Low in August

A Chinese manufacturing index stayed near the borderline between expansion and contraction in August, signaling limits for more monetary tightening.

The Purchasing Managers’ Index was at 50.9, from the 29-month low of 50.7 in July, the China Federation of Logistics and Purchasing said in a statement today. A separate measure released by HSBC Holdings Plc contracted for the second month.