Author: CDT Money
November data has reinforced the cautious optimism that began to creep into the Chinese economy in September, as factory output and retail sales reached eight-month highs and inflation remained under control. Not all signs pointed in the same direction – exports rose less than expected for the month, and banks missed their targets for new loans – but the overall picture
A key measure of Chinese manufacturing activity edged into positive territory last week, as the official Purchasing Managers Index (PMI) rose from a September level of 49.8 to 50.2 for October. The expansionary figure represents a three-month high, and one analyst told BBC News that “the return of the PMI to above 50 suggests economic momentum has indeed picked up”.
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