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China sustains manufacturing growth
By Wang Yanlin |
December 1, 2009, Tuesday
|
Online Edition
Online Edition
CHINESE manufacturing sustained its growth in November, shored up by the country's strengthened economy and improved profit margins, according to an index released today.
The official Purchasing Managers Index, a measure of the nation's manufacturing activities, settled at 55.2 last month, the same as the figure in October and up from 54.3 in September, the China Federation of Logistics and Purchasing said.
The PMI, which includes forward-looking elements such as orders for future sales, has been above 50 for nine straight months and extended an 18-month high in November. A reading above 50 indicates expansion.
"The momentum of growth in China's PMI suggests industrial production is improving steadily," said Sherman Chan, an economist at Moody's Economy.com. "China's economy has been consolidating, which supports domestic demand to sustain China's manufacturing expansion."
The PMI sub-index for production increased 0.1 from a month earlier to 59.4 in November. The reading for new orders slipped 0.1 to 58.4.
Industries including textile, apparel, tobacco, metal production and transport equipment manufacturing reported new orders were gaining. But beverages, petroleum refining, paper making and printing industries said their new orders fell in November from October, according to the federation.
The official Purchasing Managers Index, a measure of the nation's manufacturing activities, settled at 55.2 last month, the same as the figure in October and up from 54.3 in September, the China Federation of Logistics and Purchasing said.
The PMI, which includes forward-looking elements such as orders for future sales, has been above 50 for nine straight months and extended an 18-month high in November. A reading above 50 indicates expansion.
"The momentum of growth in China's PMI suggests industrial production is improving steadily," said Sherman Chan, an economist at Moody's Economy.com. "China's economy has been consolidating, which supports domestic demand to sustain China's manufacturing expansion."
The PMI sub-index for production increased 0.1 from a month earlier to 59.4 in November. The reading for new orders slipped 0.1 to 58.4.
Industries including textile, apparel, tobacco, metal production and transport equipment manufacturing reported new orders were gaining. But beverages, petroleum refining, paper making and printing industries said their new orders fell in November from October, according to the federation.
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