China man­u­fac­tur­ing up as Ja­pan, Aus­tralia slow

The Pak Banker - - International3 -

SHANG­HAI: China's man­u­fac­tur­ing boom picked up pace in Novem­ber, shrug­ging off weak­ness in the U.S. and other ex­port mar­kets that slowed pro­duc­tion in Ja­pan and Aus­tralia.

The state-af­fil­i­ated China Fed­er­a­tion of Lo­gis­tics and Pur­chas­ing said Wed­nes­day that its pur­chas­ing man­agers in­dex, or PMI, rose to 55.2 last month from 54.7 in Oc­to­ber and 53.8 in Septem­ber.

Monthly read­ings have stayed above 50, the bench­mark for ex­pan­sion, for 21 straight months, de­spite a slight slow­ing in China's eco­nomic growth in the three months end­ing in Septem­ber to 9.6 per­cent from a post-cri­sis peak of 11.9 per­cent in the first quar­ter of this year.

A com­pet­ing Chi­nese sur­vey, the HSBC China Man­u­fac­tur­ing PMI - a sea­son­ally ad­justed in­dex de­signed to mea­sure the per­for­mance of the man­u­fac­tur­ing econ­omy - rose to an eight-month high of 55.3 per­cent in Novem­ber, up from 54.8 per­cent in Oc­to­ber. -Ap

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