China's manufacturing PMI rises
Wednesday 1 Nov 201714th consecutive rise in Manufacturing PMI - A press release from China’s National Bureau of Statistics (NBS) shows that the manufacturing purchasing managers index (PMI) for September marked the 14th consecutive month of expansion and the highest reading since April 2012.
The NBS says the manufacturing sector maintained a stable performance and good growth momentum. Factories increased output to take advantage of firm domestic demand and high prices driven by a building boom.
The impressive performance of China's manufacturers comes despite moves by the government to close low tech and high polluting industries. Some analysts comment that news of major cuts in capacity can be misleading since overall output is still rising.
Source: National Bureau of Statistics, China
Source: ITTO TTM Report
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