China HSBC PMI stands at a 13-month high

FXstreet.com (Barcelona) - After China resumed its expansion in November, after it showed the official manufacturing PMI at 50.6, which represents a 7 month high, the China HSBC PMI printed a promising 50.5 number, slightly improved if compared to 50.4 preliminary release and way above 49.5 previous in October. The number is a new 13-month high.

Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The final November manufacturing PMI stood at a 13-month high of 50.5 on increasing new business and
expanding production. This confirms that Chinese economy continues to recover gradually. We expect GDP growth to rebound modestly to around 8% in 4Q as the easing measures continue to filter through.”

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