My grandpop used to have an expression -- a couple of you heard me say -- when the guy -- he was from Scranton -- when the guy in Oliphant's is out of work it's an economic slowdown -- that's a little town outside of Scranton.
Hongbin Qu, chief economist for China at HSBC, said the improvement in factory conditions suggests earlier easing measures from Beijing have started to work and should ease concerns of a sharp growth slowdown.