14 December 2012 08:57 [Source: ICIS news]
SINGAPORE (ICIS)--HSBC’s December purchasing managers’ index (PMI) for China rose to a 14-month high at 50.9, showing a continual growth in economy under improved domestic demand.
China manufacturing PMI from HSBC was 50.4 in November, according to an earlier report from ICIS.
“The data achieved a new 14-month high, it also can read as a signal of domestic demand recovery, but the decline on new export order means the oversea demand still remain soft,” said Hongbin Qu, HSBC chief China economist.
A figure above 50 indicates an expansion, while a figure below 50 represents a contraction.
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