China’s official manufacturing index was stronger than anticipated for July, easing concerns that tighter monetary policy could trigger a broader slowdown, Bloomberg reported. The Purchasing Managers’ Index, released on Monday, posted 50.7 for the month, a slight decline from 50.9 in June. A figure above 50 indicates expansion. The reading was higher than economists’ expectations of around 50.2. “Growth is moderating as earlier tightening policies are biting,” said Chang Jian, a Hong Kong-based economist at Barclays Capital. “But full-year expansion of around 9% remains achievable given the support from investment and consumption in the second half.” Attention has been fixed on the possibility of an economic “hard landing,” as China’s government must balance the need to control inflation, which reached 6.4% year-on-year in June, without hamstringing economic growth.