Chinese economy: Manufacturing grows for 2nd month
China’s purchasing managers’ index (PMI) reached 50.6 last month, up from 50.2 in October.
BEIJING:
China’s manufacturing activity grew in November for the second month in a row, official data showed Saturday, in a further sign of strength in the world’s second-biggest economy after a marked slowdown. China’s purchasing managers’ index (PMI) reached 50.6 last month, up from 50.2 in October and 49.8 in September, the National Bureau of Statistics said. A PMI reading above 50 indicates expansion while anything below points to contraction. Separately, in a further sign of upward momentum, a closely watched private survey of Chinese manufacturing released by HSBC on November 22 showed growth for the first time in 13 months. China’s economic growth hit a more than three-year low of 7.4% in the third quarter from July to September, but recent data have fuelled optimism that the worst is past.
Published in The Express Tribune, December 2nd, 2012.
China’s manufacturing activity grew in November for the second month in a row, official data showed Saturday, in a further sign of strength in the world’s second-biggest economy after a marked slowdown. China’s purchasing managers’ index (PMI) reached 50.6 last month, up from 50.2 in October and 49.8 in September, the National Bureau of Statistics said. A PMI reading above 50 indicates expansion while anything below points to contraction. Separately, in a further sign of upward momentum, a closely watched private survey of Chinese manufacturing released by HSBC on November 22 showed growth for the first time in 13 months. China’s economic growth hit a more than three-year low of 7.4% in the third quarter from July to September, but recent data have fuelled optimism that the worst is past.
Published in The Express Tribune, December 2nd, 2012.