Economics
Copper Advances as Manufacturing Unexpectedly Expands in China
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Copper futures in New York rose for the second time in three days after manufacturing unexpectedly expanded in China, the world’s largest consumer of the metal.
A factory index released today by HSBC Holdings Plc and Markit Economics showed a preliminary reading of 50.1 for August, compared with a median estimate of 48.2 in a Bloomberg survey of economists. Levels above 50 signal growth. Exports from China rebounded in July, and service industries and factory output expanded at a faster rate, reports showed this month.