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China sees manufacturing growth after 13 months

China sees manufacturing growth after 13 months

November 23, 2012

Seven consecutive quarters of slowdown ended as China’s manufacturing sector sees rapid growth in November.

South China Morning Post has reported on the country’s rapid growth, ending 13 months of slowdown as a preliminary factory survey indicates that the pace of economic growth has recovered.

The China HSBC Flash Manufacturing Purchasing Managers Index (PMI) reached a 13-month high of 50.4 in November, said to be indicative of “solid credit growth, firmer exports and rising industrial output”, with a sub-index measuring output increase to 51.3, “also the highest since October 2011”.

The positive growth has a number of analysts and investors confident in the wealth of pro-growth policies pushed forward by the government in recent months.

Chief China Economist at index sponsor HSBC Qu Hongbin commented: “As November’s flash reading of HSBC manufacturing PMI bounced back to the expansionary territory for the first time in 13 months, this confirms that the economic recovery continues to gain momentum towards the year end.

“However, it is still the early stage of recovery and global economic growth remains fragile. This calls for a continuation of policy easing to strengthen the recovery.”

Categories : Around the Industry

Tags : Business China Market Data

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