Wednesday, 2 January 2013

Chinese manufacturing shows expansion

The new year brought confirmation that China's manufacturing sector is recovering. The National Bureau of Statistics and China Federation of Logistics and Purchasing reported on Tuesday that their manufacturing PMI held at 50.6 in December, unchanged from November, indicating expansion in the manufacturing activity.

Indication of an upturn was also evident elsewhere in Asia. A report today showed that Singapore's economy grew at an annualised rate of 1.8 percent in the fourth quarter after contracting at a 6.3 percent rate in the previous quarter.

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