Saturday 21 January 2012

Chinese manufacturing stays weak but US existing home sales jump

HSBC's manufacturing PMI for China shows that activity in the sector remained weak in January. The preliminary PMI rose marginally to 48.8 from 48.7 in December.

There was mixed news from Japan. The all industry activity index fell 1.1 percent in November but the leading index rose to 93.2, up from an initial estimate of 92.9, from 92.0 in October.

In the UK, the Office for National Statistics reported on Friday that retail sales volume grew by 0.6 percent in December after having fallen 0.5 percent in November.

There was also positive news in the US, where the National Association of Realtors reported on Friday that existing home sales increased 5.0 percent to an 11-month high in December.

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