English | دری

China’s manufacturing sector rebounding

in International Business

China’s manufacturing sector rebounding

According to the latest figures, China’s purchasing managers index (PMI) stands at 50.4 in the month of November.

This is the first time in 13 months that the index has risen above the level of 50. A reading above 50 denotes expansion.

China’s manufacturing sector is the key driver of its economic growth. The sector has been heavily hit by the global economic slowdown that has resulted in lowering the demands for Chinese products particularly in the US, Eurozone and Japan.

The latest data follows a rise in fixed asset investment, industrial production and retail sales in October, announced before China’s leadership transition.

Qu Hongbin, chief China economist at HSBC said the expansion in manufacturing “confirms that the economic recovery continues to gain momentum towards the year-end”.

China’s central bank has been continuously taking measures to ease down policy and strengthen the recovery.



Related Articles

Qantas shares plummet on profit fears

Chief executive Alan Joyce has announced Qantas would split its international arm from its domestic operations. Shares of Qantas Airways

Apples shares gained after release of iPhone 5

After receiving two million pre-orders for its latest iPhone 5 model, Apple’s shares bounced to a record high of almost

US Congress in final push to reach 'fiscal cliff' deal

BBC News- US Congressional leaders have one more day to stop steep tax rises and spending cuts, known as the

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Your e-mail address will not be published.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.