HSBC/Markit China manufacturing PMI rose to 50.5 in November3 December, 2012, 10:09. Posted by Zarathustra
HSBC/Markit China manufacturing PMI posts its first above-50 reading in more than a year.
The final HSBC/Markit PMI headline rose from 49.5 in October to 50.5 in November, slightly above the flash estimate of 50.4, indicating the first expansion of manufacturing sector in more than year. New order fell from 51.2 to 50.8, but new export orders increased from 46.7 to 52.1. Meanwhile, stock of finished goods rose slightly from 48.4 to 48.8, thus the new orders minus inventory measure fell from 2.8 to 2.0.
Meanwhile, employment continues to contract, albeit at a slower pace. Employment sub-index rose from 48.5 to 49.0.
This latest figure confirms the modest pick-up in economic activities in the fourth quarter, with notable recovery in new export orders.