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China’s Manufacturing Activity Index Jumps to 7-Month High
A purchasing managers index that tracks manufacturing activity in China rose to a seven-month high of 50.9 in October from 50.2 in September.
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A purchasing managers index that tracks manufacturing activity in China rose to a seven-month high of 50.9 in October from 50.2 in September.
The barometer, which is calculated by New York City-based bank HSBC, precedes a similar gauge from the Chinese government. Any number above 50 indicates growth.
China's economic growth slowed to a 20-year low of 7.5% in the second quarter but rebounded to 7.8% in the third period. HSBC says this month's index shows broad but modest improvements in new orders, production and exports, an indication of stabilization.
China's central leadership has said its long-term goal is to refocus the country's economy which has been driven in recent years by exports and investment for sustained economic growth based on domestic consumption.
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