Survey: China manufacturing grows for eighth month (AP)

China services PMI is out, and it's mediocre. From Markit:

Offi

The global economy led by Europe and China continues its downward path. Will the US follow? First let's take a look at China. Markit reports China Manufacturing PMI Declines 8th Consecutive Month. Key points

BEIJING (AP) -- China's manufacturing activity rose to a 14-month high in December, adding to signs the world's second-largest economy is recovering, but export orders weakened, a survey showed Friday....

From the second quarter the government has unleashed a lot of projects, and that has started to be felt in the economy, but it’s not a very healthy recovery yet BEIJING — China’s economy picked up in November, but a broader global recovery remains fragile and patchy, a clutch of factory surveys suggested on Monday, with activity elsewhere in Asia remaining subdued amid depressed demand from the developed world.

China manufacturing is reported to be in contraction and expansion simultaneously. The Chinese government reports expansion. The HBSC PMI says China is in contraction for the 6th consecutive month. Obviously this is impossible, so the question is "who to believe?" China Manufacturing Expands at Faster Pace Bloomberg reports China’s Stocks Rise Most in Two Weeks on Manufacturing, Fee Cut

WASHINGTON — A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. But factories hired at the fastest pace in nine months, an encouraging sign ahead of Friday’s report on March employment. The Institute for Supply Management said Monday that its index of factory activity slipped to 51.3 percent. The index fell from 54.2 percent in February, which was the fastest growth since June 2011. A reading above 50 indicates expansion. The index has signaled growth for four straight months.

WASHINGTON — A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. But factories hired at the fastest pace in nine months, an encouraging sign ahead of Friday’s report on March employment. The Institute for Supply Management said Monday that its index of factory activity slipped to 51.3 percent. The index fell from 54.2 percent in February, which was the fastest growth since June 2011. A reading above 50 indicates expansion. The index has signaled growth for four straight months.