Oil price rises on Chinese manufacturing survey
Associated Press
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Updated 10:52 p.m., Tuesday, October 23, 2012
BANGKOK (AP) — The price of oil rose Wednesday after a survey of Chinese manufacturing suggested that a slowdown in the world's second-largest economy might be stabilizing. [...] sentiment improved after HSBC Inc. released a preliminary version of its monthly China purchasing managers' index, which rose to a three-month high of 49.1. China's government has cut interest rates twice since June and is pumping money into the economy through higher investment by state companies and more spending on building subways and other public works. Reported by SeattlePI.com 44 minutes ago.
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 10:52 p.m., Tuesday, October 23, 2012
BANGKOK (AP) — The price of oil rose Wednesday after a survey of Chinese manufacturing suggested that a slowdown in the world's second-largest economy might be stabilizing. [...] sentiment improved after HSBC Inc. released a preliminary version of its monthly China purchasing managers' index, which rose to a three-month high of 49.1. China's government has cut interest rates twice since June and is pumping money into the economy through higher investment by state companies and more spending on building subways and other public works. Reported by SeattlePI.com 44 minutes ago.