English | دری

China’s manufacturing activity growing at its fastest rate in two years

in International Business

China’s manufacturing activity growing at its fastest rate in two years

china manuChina reported a Purchasing Managers Index (PMI) of 51.9 in January compared with 51.5 in December.

The country’s manufacturing activity is at its two-year high since January 2011 and above 50.

A PMI of above 50 indicates expansion and signals that the world’s second-largest economy is recovering after a sharp slowdown.

The key driver of Chinese economy, the manufacturing sector was hit by the sagging export demand in Europe and the US that have been hit heavily by debt crises.

“Despite the still tepid external demand, the domestic-driven restocking process is likely to add steam to China’s ongoing recovery in the coming months,” said Qu Hongbin, chief China economist at HSBC.

The HSBC preliminary reading, called Flash PMI, is a private survey of more than 420 companies. The responses of 85%-90% of the companies form the reading.


Tags assigned to this article:
china economyChina manufacturing

Related Articles

Eurozone crisis: Spain’s borrowing costs fall

Spain’s short term borrowing costs tumbled on Tuesday as it raised 4.51 billion euros, on hopes that the European Central

US economy creates job less than expected

The US economy creates 96,000 jobs, lower than 41,000 figure expected in July. The employment increased in food services and

China National Gold to buy a stake in African Barrick Gold

As demand for gold in China is surging, China’s state-owned miner, China National Gold, is in talks with African Barrick

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.