China S HSBC Flash Manufacturing PMI At 13 Month High
The HSBC Flash China Manufacturing PMI was created to provide early indications of China's economic condition. The results are available one week prior to the final PMI data and is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 manufacturing companies. The survey includes small, medium and large manufacturers, comprising state owned and private enterprises to give an accurate representation of the Chinese manufacturing sector.
These figures came out yesterday evening for China and we saw an unexpected growth in the manufacturing sector. It is said that this is a positive sign that China's economy has revived after a few difficult months.
The figure rose to 50.4, and it shows business conditions for smaller firms, particularly those in the export sector, are improving. While these figures confirm China's start on the road to recovery, it is still early days and a continuation of policy easing will be required to further strengthen its economy.