Manufacturing Activity across China Records Expansion in December
In December, manufacturing activity across China expanded for the 10th consecutive month as the world's third-largest economy continued to recover from the recession at an astonishing pace, as has been confirmed by the official data released on Friday.
A rise of 56.6% was recorded in December by the China Manufacturing PMI, or Purchasing Managers' Index, a substantial increase from the November figure of 55.2, as has been officially confirmed by the China Federation of Logistics and Purchasing.
A reading of over 50 indicates a definite expansion in the sector, and a reading of below 50, on the other hand, suggests an overall decline.
"The rising index suggests the Chinese economy has further consolidated its recovery", said researcher Zhang Liqun, while quickly asserting that the orders of new export have declined, which shows that the country's main trading partners are still struggling to get out of the financial downturn and it is, therefore, "too early to be optimistic about the recovery in the global market".
The China Manufacturing PMI is all set to be officially released by HSBC on Monday.
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