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China's PMI rises in Nov, indicating room for tightening
By Wang Yanlin |
December 1, 2010, Wednesday
|
Online Edition
Online Edition
CHINESE manufacturing activities continued to expand in November, beating economists' forecasts and paving the way for tightening policies.
However, inflation at the factory gate surged to a 28-month high, indicating more measures are needed to tame price increases.
The official Purchasing Managers' Index, a comprehensive gauge of industrial activities across the country, upped 0.5 percentage point from a month earlier to 55.2 percent in November, the China Federation of Logistics and Purchasing said today.
A reading above 50 percent indicated an expansion, and the index has been in the expansionary territory for 21 months in a row.
But the component index for input costs climbed to 73.5 percent last month, a record since July of 2008 after prices of wood, cotton and leather reached the apex in the survey's history since 2005.
"The lasting price jump of commodities in the past four months created a big challenge to Chinese manufacturers to control costs," the survey said. "The inflationary expectation was further inflamed by robust market demand."
Other indices offered a proof with the new orders upping 0.1 percentage points to 58.3 percent and production rising 1.4 percentage points to 58.5 percent.
However, inflation at the factory gate surged to a 28-month high, indicating more measures are needed to tame price increases.
The official Purchasing Managers' Index, a comprehensive gauge of industrial activities across the country, upped 0.5 percentage point from a month earlier to 55.2 percent in November, the China Federation of Logistics and Purchasing said today.
A reading above 50 percent indicated an expansion, and the index has been in the expansionary territory for 21 months in a row.
But the component index for input costs climbed to 73.5 percent last month, a record since July of 2008 after prices of wood, cotton and leather reached the apex in the survey's history since 2005.
"The lasting price jump of commodities in the past four months created a big challenge to Chinese manufacturers to control costs," the survey said. "The inflationary expectation was further inflamed by robust market demand."
Other indices offered a proof with the new orders upping 0.1 percentage points to 58.3 percent and production rising 1.4 percentage points to 58.5 percent.
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