China's Manufacturing Grows for First Time in a Year

Factory activity in China, which contracted in October, expanded slightly last month, according to the HSBC China Manufacturers Purchasing Managers Index.

The HSBC index rose to a 13-month high of 50.5 in November from 49.5 the month before. Any reading above 50 indicates expansion.

The bank's output index for China jumped to 51.3 from 48.2. Export orders also began growing last month. Employment and order backlogs continued to shrink, but at a slower pace.

The Chinese government says its manufacturing index climbed to a seven-month high of 50.6 last month from 50.2 in October.