China Aug. Leading Index Posts Biggest Gain In 7 Months

The Conference Board's leading indicator for China's economic activity rose at the fastest pace in seven months in August, raising hopes for a moderate rebound in growth.

The leading economic index (LEI) increased 1.7 percent month-on-month to 240 in August. This followed a 0.6 percent increase in July and 0.1 percent rise in June.

"The improvement in the China LEI in August raises expectations for a moderate rebound in growth, even as current economic conditions remain subdued," said Andrew Polk, the Conference Board's resident economist in Beijing.

The coincident economic index, which measures current economic activity, increased 0.5 percent to 223. This comes after a 0.5 percent gain in July and a 0.9 percent increase in June.