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China's manufacturing expands for 1st time in 3 months
By Ye Zhen |
November 1, 2012, Thursday
|
Online Edition
Online Edition
CHINA'S manufacturing activities expanded in October after two months of contraction, indicating a recovery in the country's economy, a survey showed today.
The official Purchasing Managers' Index, a gauge of manufacturing activity slanted more towards state-owned firms, rose to 50.2 in October, up 0.4 point from a month earlier. It's also the first time it has climbed above 50 since July, according to the China Federation of Logistics and Purchasing.
A reading of 50 or higher indicates that activity is expanding. The figure is generally in line with market expectation and adds to signs that China's economy is regaining momentum.
Meanwhile, a HSBC report also points to an improvement in the country's private and export-oriented manufacturers. HSBC's China Purchasing Managers' Index climbed to an eight-month high of 49.5, up from final figure of 47.9 in September, HSBC Holdings PLC announced today. The sub-index of new orders advanced to 51.2, the highest in one year.
The official Purchasing Managers' Index, a gauge of manufacturing activity slanted more towards state-owned firms, rose to 50.2 in October, up 0.4 point from a month earlier. It's also the first time it has climbed above 50 since July, according to the China Federation of Logistics and Purchasing.
A reading of 50 or higher indicates that activity is expanding. The figure is generally in line with market expectation and adds to signs that China's economy is regaining momentum.
Meanwhile, a HSBC report also points to an improvement in the country's private and export-oriented manufacturers. HSBC's China Purchasing Managers' Index climbed to an eight-month high of 49.5, up from final figure of 47.9 in September, HSBC Holdings PLC announced today. The sub-index of new orders advanced to 51.2, the highest in one year.
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