HSBC flash PMI for China rise to 13-month high in November

22 November 2012 02:31  [Source: ICIS news]

SINGAPORE (ICIS)--HSBC’s November flash purchasing managers’ index (PMI) for China rose to a 13-month high at 50.4, signalling that the country’s manufacturing activity is expanding amid an increase in new-export orders.

The flash PMI number for November was 0.9 points higher than the final reading of the HSBC China manufacturing PMI in October at 49.5, HSBC said in a statement.

A figure above 50 indicates an expansion, while a figure below 50 represents a contraction.

“This confirms that the economic recovery continues to gain momentum towards the year-end,” HSBC chief China economist Hongbin Qu said.

“However, it is still the early stage of recovery and global economic growth remains fragile. This calls for a continuation of policy easing to strengthen the recovery,” Qu added.


By: Nurluqman Suratman



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index