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China Manufacturing Grows for Ninth Month

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BEIJING, Dec. 2 -- China's manufacturing sector continued to grow for the ninth straight month in November, according to a survey by the China Federation of Logistics and Purchasing (CFLP) on Tuesday.
&nbsp;&nbsp;&nbsp; The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 55.2 percent in November, unchanged from the previous month, the CFLP said.
&nbsp;&nbsp;&nbsp; It was the ninth straight month that the PMI reading stayed above 50.
&nbsp;&nbsp;&nbsp; A reading of above 50 suggests expansion, while one below 50 indicates contraction. The PMI includes a package of indices that measure economic performance.
&nbsp;&nbsp;&nbsp; Zhang Liqun, a researcher with the Development Research Center of the State Council, said the unchanged PMI index from the month before might suggest a stable recovery of China's economy.
&nbsp;&nbsp;&nbsp; He expected government investment would see gradual reduction, while investment from the private sector might increase. Exports would go up, but not in a drastic rise, he said.
&nbsp;&nbsp;&nbsp; In November, new order index and output index both held steady from figures in the previous month at 58.4 percent and 59.4 percent, respectively, according to the CFLP.
&nbsp;&nbsp;&nbsp; New export order index was 53.6 percent, down by 0.9 percentage points compared to November while purchasing price index rose by 6.5 percentage points to 63.4 percent.
&nbsp;&nbsp;&nbsp; Only three out of the 20 surveyed sectors reported a PMI index reading below 50, which were paper making and printing, oil processing, and beverages making.&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp; (Source: Xinhua)&nbsp;&nbsp;
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China Manufacturing Grows for Ninth Month | SMM

China Manufacturing Grows for Ninth Month

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