China Manufacturing Index Rises Thanks To Stimulus.
Bloomberg News (3/4, Yanping, Piboontanasawat) reports that China's Purchasing Manager's Index "climbed for a third month, adding to evidence that a 4 trillion yuan ($585 billion) stimulus package is pushing the world's third-biggest economy closer to a recovery." The index "rose to a seasonally adjusted 49 in February from 45.3 in January, the China Federation of Logistics and Purchasing said" Wednesday. "Stocks rose after output and new orders expanded for the first time in five months. Chinese Premier Wen Jiabao may announce extra measures to reverse the nation's economic slide." The New York Times (3/4, Wassener) also covers the story in its website.