Asia is at the front of the global economy as manufacturing in China grew at the fastest pace in five years last month. The purchasing managersÃ¢â‚¬â„¢ index released by HSBC Holdings Plc rose to a seasonally adjusted 55.7 from 55.4. The governmentÃ¢â‚¬â„¢s PMI, also published today, held at an 18-month high.
Ã¢â‚¬Å“ChinaÃ¢â‚¬â„¢s at the center of AsiaÃ¢â‚¬â„¢s outperformance and that will continue to be the case at least through the first half of 2010,Ã¢â‚¬Â said Glenn Maguire, chief Asia-Pacific economist at Societe Generale SA in Hong Kong. Ã¢â‚¬Å“Without ChinaÃ¢â‚¬â„¢s aggressive policy response to the crisis, the region wouldnÃ¢â‚¬â„¢t be where it is now.Ã¢â‚¬Â
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