Chinese Manufacturing Activity Surges Ahead In November

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Tuesday, Markit Economics reported that the China HSBC Manufacturing Purchasing Managers' Index stood at a seasonally adjusted 55.7 in November, up from 55.4 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction. This was the most marked improvement in the Chinese manufacturing sector since the first month of data collection in April 2004.

Manufacturing output reported growth for the eighth straight month in November, with the rate of expansion accelerating slightly from the previous month. Respondents attributed the rise in output to a greater inflow of new orders. Export sales were also on the rise in the manufacturing sector, fuelled by stronger external demand.

Further, employment levels in the manufacturing sector expanded at their second fastest rate in survey history, extending the current period of growth to six months. Panelits cited gains in new work and business expansion policies for the rise in job creation.

Tuesday, Markit Economics reported that the China HSBC Manufacturing Purchasing Managers' Index stood at a seasonally adjusted 55.7 in November, up from 55.4 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction. This was the most marked improvement in the Chinese manufacturing sector since the first month of data collection in April 2004. (Market News Provided by RTTNews)