China manufacturing up as Japan, Australia slow
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