Chinese manufacturing activity improved for the first time in more than a year in November, the preliminary reading of a survey by HSBC showed Thursday. The so-called flash manufacturing Purchasing Managers’ Index for November printed at 50.4 — above the 50-point threshold that separates improvement from deterioration — for the first time in 13 months, the HSBC survey showed. In October, the final reading of the HSBC China manufacturing PMI came in at 49.5. The flash, or preliminary reading, is based on about 85% to 90% of the responses in HSBC’s survey. Hongbin Qu, HSBC chief economist for China, said the data “confirms that the economic recovery continues to gain momentum towards the year end,” but called for continued policy easing as global economic growth and China’s recovery remain “fragile.”
Via – CNBC
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