China’s economy continued to show signs of stabilization in November with two separate manufacturing surveys on Thursday pointing to better-than-expected growth.
The official manufacturing Purchasing Managers’ Index (PMI), which measures large state-owned factories, came in at 51.7 in November–matching the previous high in July 2014 and the highest since the 53.3 hit in April 2012.
The official PMI was an improvement from 51.2 in October and beat Reuters analyst predictions of a 51.0 reading.
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Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.
His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.
Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.