Sep 2, 2013 11:53 AM by Eric Ross
HONG KONG (AP) - A private survey shows Chinese manufacturing activity held steady last month, adding to signs that the slowdown in the world's No. 2 economy is stabilizing.
The HSBC purchasing managers' index released Monday rose to 50.1 in August, indicating conditions were relatively unchanged.
The index uses a 100-point scale on which numbers below 50 indicate contraction.
China's manufacturing had shrunk for the three previous months, falling to an 11-month low in July, according to the index.
HSBC's economist said output and new orders expanded although the growth rate was slight.
The report confirms a preliminary version of the survey released last month. It comes a day after an official survey showed manufacturing expanded for the second month in a row to the highest level in a year.