china manufacturing activity hits 19month high
Last Updated : GMT 10:30:02
Arab Today, arab today
Arab Today, arab today

China manufacturing activity hits 19-month high

Arab Today, arab today

Arab Today, arab today China manufacturing activity hits 19-month high

Beijing - AFP

China\'s manufacturing activity surged to a 19-month high in December, British bank HSBC said Monday, adding to signs of recovery in the world\'s second-largest economy. The year\'s final purchasing managers\' index (PMI) from the lender hit 51.5, up from 50.5 in November when the figure returned to growth after 12 consecutive months of contraction. A reading above 50 indicates expansion in the key sector, while one below signals shrinkage. The December reading was also better than a preliminary 50.9 announced earlier in the month and marked the fourth straight month-on-month improvement. \"Such a momentum is likely to be sustained in the coming months when infrastructure construction runs into full speed and property market conditions stabilise,\" Qu Hongbin, HSBC\'s chief economist for China, said in the release. The index, compiled by information services provider Markit and released by HSBC, tracks manufacturing activity and is a closely watched barometer of the health of the economy. Output at factories expanded for the second straight month in December at the fastest pace in 21 months, while total new orders rose at the fastest clip since January of 2011, HSBC said. China\'s strengthening manufacturing sector, and improvements in areas including broader industrial production and retail sales, have spurred optimism that the country\'s economic slowdown has bottomed out. Economic growth hit a more than three-year low of 7.4 percent in the third quarter to September, though data so far for the fourth quarter has led analysts to expect a pick-up. Qu said that prevailing conditions and continued government policy support should see the economy grow about 8.6 percent in 2013. The Chinese government has forecast 2012 economic growth to come in at 7.5 percent, considerably lower than the 9.3 percent recorded in 2011 and 10.4 percent racked up in 2010. Ren Xianfang, economist with IHS Global Insight in Beijing, said the PMI data confirm the \"rebound trajectory\" of China\'s economy. \"Having escaped the hard-landing curse in 2012, the Chinese economy looks to have a better chance delivering a slightly stronger growth in 2013,\" she told AFP in an e-mail. She said infrastructure and housing construction would bolster the economy in 2013, \"while the external sector\'s contribution to growth will likely remain minimal or negative\". Indeed, weakness in the global economy -- where Europe is still struggling with its debt crisis and concerns remain over the strength of recovery in the United States -- is seen as a potential hurdle for China\'s recovery. Exports for November rose just 2.9 percent year-on-year to $179.4 billion, much lower than market expectations. New export orders as reflected in the December PMI fell slightly, according to HSBC. \"The external environment remains challenging as we enter 2013,\" according to a separate analysis by the bank. \"This is reflected not only by the drop in the new export orders readings within the HSBC PMI, but also by fast fading hopes of an effective resolution to the US\'s fiscal cliff crisis,\" it said. \"Moreover, European economic fundamentals remain weak.\" Political leaders in the US are working against a January 1 deadline to avoid the \"fiscal cliff\'\' -- a punishing package of spending cuts and tax hikes due to take effect on Tuesday that could derail the country\'s recovery, with knock-on effects globally.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china manufacturing activity hits 19month high china manufacturing activity hits 19month high

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china manufacturing activity hits 19month high china manufacturing activity hits 19month high

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday