01 Jan '12, 5am

China manufacturing rebounds in December

China manufacturing rebounds in December

SHANGHAI: China's manufacturing activity rebounded in December helped by holiday shopping, according to official data Sunday, as the economy showed some resilience despite strife in key export markets. The purchasing managers index (PMI) reached 50.3 in December, the China Federation of Logistics and Purchasing said in a statement. A reading above 50 indicates the sector is expanding while a reading below 50 suggests a contraction. The group attributed the rebound to seasonal factors, as manufacturers ramped up production to meet higher demand from holiday shoppers for the Christmas and Chinese New Year, which falls in January. Manufacturing returned to expansion last month after contracting for the first time in 33 months in November, when the PMI fell to 49 -- down 1.4 points from October -- due to weaker demand from Europe and the United States. The market had expected ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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[Daily Blog Reads] December

[Daily Blog Reads] December

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