Manufacturing expands in Oct

17 january 2013

China’s purchasing managers’ index, the preliminary indicator of manufacturing activity, rose to 50.2 percent in October from 49.8 percent in September, signaling an economic rebound in the world’s second largest economy after a seven-quarter slowdown.

The figure is above the 50-percent level, signifying expansion, according to data released by the China Federation of Logistics and Purchasing and National Bureau of Statistics.

Earlier the HSBC flash PMI rose to 49.1 in October from 47.9 in September.

“Leading indexes all point to rising growth momentum,” said Zhang Zhiwei, chief Chinese economist at Nomura Securities Co Ltd, before the release of the official PMI figure.