China : Manufacturing activity expands more than expected in November
Thu Dec 01 2016
Austin Collins (257 articles)

China : Manufacturing activity expands more than expected in November

BEIJING : Activity in China’s manufacturing sector expanded more than expected in November, and at the fastest pace in more than two years, an official survey showed on Thursday.

The official Purchasing Managers’ Index (PMI) stood at 51.7 in November, compared with the previous month’s 51.2 and above the 50-point mark that separates growth from contraction on a monthly basis.

The reading was the highest since July 2014, when it also stood at 51.7.

Analysts polled by Reuters had predicted a reading of 51.0, pointing to a modest expansion in November as industrial firms continued to benefit from higher producer prices and a recovery in demand.

China’s economy expanded at a steady 6.7 percent in the third quarter and looks set to hit Beijing’s full-year target, fueled by stronger government spending, record bank lending and a red-hot property market that are adding to its growing pile of debt.

Austin Collins

Austin Collins

Austin Collins is our Europe, Asia, & Middle East Correspondent. He covers news related to Stock Market. In past he has worked for many prestigious news & media organizations. He is based in Dubai

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