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China manufacturing indices at highest in 2 years

The purchasing managers' index gauges conditions at Chinese factories and mines and is seen as the first indicator of the economy's healthFactory activity in China expanded at its fastest pace in more than two years last month, official and private measures both showed on Tuesday, boding well for the world’s second-largest economy. Investors closely watch the purchasing managers’ index (PMI) numbers, which gauge conditions at Chinese factories and mines, as the first indicators of the health of the economy each month. The official PMI came in at 51.2 for October, its highest since July 2014, figures from the National Bureau of Statistics (NBS) showed.

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