Latest News:  
Beijing   Cloudy    11 / 1 ℃  City Forecast


Non-manufacturing PMI hits 3-month high (2)

By Chen Jia (China Daily)

08:11, December 04, 2012

That marked the first time its figure has exceeded 50 since October 2011.

The HSBC reading was in line with the bureau's PMI figure for November, which was released on Saturday and showed a score of 50.6, up by 0.4 point from October. That marked the index's fourth consecutive monthly increase and the highest point it has reached in seven months.

The PMI's new order sub-index increased by 0.8 point from October to November's 51.2, hitting a seven-month high, and its new export orders sub-index moved back up above 50 for the first time in six months, the bureau said.

The Chinese economy is "on the mend" as both domestic and external demand continues to gain strength, said Yao Wei, China economist at Societe Generale SA.

As a result of the recovery in manufacturing output and an increase in investment supported by policy easing, the country's economic growth may speed up to 8 percent in the fourth quarter this year from a more-than-three-year low of 7.4 percent in the third quarter, according to economists.

The higher service and manufacturing PMI readings support financial services company Barclays PLC's view that "year-on-year industrial production and GDP will increase moderately in the fourth quarter".

Cai Jin, vice-chairman of the China Federation of Logistics and Purchasing, said domestic demand is playing a greater role in driving the economy.

China's economic development is likely to rebound in 2013 and grow at a rate of 7.5 percent — the same rate it is expected to show this year — or even faster, a deputy central bank governor said on Sunday.

【1】 【2】 【3】 【4】

We recommend:

China's first rail to 'sea of death' starts operation

Sales of Samsung's Galaxy Note 2 tops 5mmark

Beijing-Guangzhou high-speed rail to open

10th China Int'l Automobile Exhibition concludes

Shanghai Center Tower to rise over 400m

New wave of communication tools

HK's MTR buys first China-made locomotives

China's savings rate world's highest

Self-owned brands account for 11% of exports


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Weekly review of military photos (2012.11.26-11.30)

  2. China-U.S. joint tabletop exercise held

  3. The World in Photos (2012.11.23-12.1)

  4. Hong Kong Int'l Boat Show 2012 kicks off

  5. 126-centimeter-tall couples attend group wedding

  6. 10th China Int'l Auto Exhibition concludes

  7. American couple set up a home for orphans in China

  8. Yoga girl in US

Most Popular


  1. Income doubling goal needs strategy
  2. Victims of sexually explicit photographs
  3. Student questions China's education system
  4. US investors 'choosing to stay in China'
  5. Solar industry gaining strength from home market
  6. China a very 'important, exciting' market
  7. West needs new view on China
  8. Level playing field for private firms
  9. Much room for China-ASEAN economic co-op
  10. Spend it again, Sam

What’s happening in China

Red alert for snowstorm issued in Liaoning, NE of China

  1. Hong Kong Int'l Boat Show 2012 kicks off
  2. Man sentenced to death for 6 sex slaves, murders
  3. Woman gets throat slit during break up
  4. 2 rescued, 14 trapped in flooded colliery
  5. Tianjin Normal University holds job fair