Growth in China’s vast manufacturing sector picked up in December, a preliminary private survey showed, with rises in areas such as new orders and employment underlining a brighter outlook for the economy in coming months.
The HSBC flash purchasing managers’ index for December rose to 50.9, a 14-month high and the fifth straight monthly gain. A figure above 50 indicates that growth is accelerating, while one below 50 shows slowing growth.
The flash survey — issued earlier in the month than usual ahead of the Christmas holidays — follows a raft of data that suggest annual economic growth has quickened in the fourth quarter after it slowed for seven consecutive quarters to 7.4 percent. Still, China is on track this year for its slowest full-year growth since 1999.
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