A look at global economic developments

Chinese shares rose after weaker July manufacturing data eased concern that the government might tighten credit curbs to keep the economy from overheating. The benchmark Shanghai Composite Index jumped 1.3 percent, adding to July's 10 percent gain.

A group representing Germany's machinery industry says orders rose 62 percent on the year in June as the global economy improved. Germany is Europe's largest economy. Meanwhile, a monthly manufacturing purchasing managers' index for the 16 countries that use the euro was revised up to 56.7 in July from the previous estimate if 56.5. Anything above 50 means the sector is expanding.
It was further evidence that economic activity in the 16 countries using the euro is recovering far stronger than most investors had thought earlier this year, when the government debt crisis was threatening the single currency zone.

For more: The Associated Press: A look at global economic developments