Mark Schlarbaum visiting the Shanghai Stock Exchange

China services and manufacturing PMIs expanded in August

Factory activity in China expanded at its fastest pace in nearly two years in August, an official survey showed Thursday, although analysts cautioned that the world’s second-largest economy wasn’t out of the woods yet. The official manufacturing Purchasing Managers’ Index (PMI), which mainly tracks large state-owned companies, rose to 50.4 last month, the highest reading since October 2014. August’s print …