Manufacturing boost for Chinese
Published 01/12/2012 | 05:04
China's manufacturing grew in November in the latest sign the world's second-largest economy is recovering from its deepest slump since the 2008 global crisis, a survey showed.
The state-sanctioned China Federation of Logistics and Purchasing's monthly purchasing managers' index improved to 50.6 on a 100-point scale on which numbers above 50 indicate activity is expanding.
That was up 0.4 points from October's numbers.
The PMI index measures overall manufacturing activity by surveying numerous indicators including orders, employment and actual production.
The Chinese numbers are rare good news for the world economy, which has slowed as Europe's chronic debt crisis worsened and the American economy stagnated.
The data shows that "economic activity is back, and growth has bottomed out", IHS Global Insight economists Xianfang Ren and Alistair Thornton wrote in a comment.
They said, however, that "we remain cautious about the sustainability of the recent improvement, worrying that much fragility persists".
Growth in China slowed to a three-year low of 7.4% in the three months ending in September.