11/02/2012, 00.00
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Growth in manufacturing, driven by mainland China

PMI data published by Hsbc: after months of contraction in China’s manufacturing sector has registered growth. Merit belongs to entire continent of Asia, which registers upward trend. Anticipation ahead of release of remaining economic data.

Beijing (AsiaNews/agencies)-For the first time in 3 months manufacturing data has rewarded China, driven by the Asian sector as a whole, reaching 50.2 points in the PMI index (Purchasing managers ' index).

Data below 50 represents a contraction in the sector, and last September Beijing only registered 49.8. However, since July that the Asian giant has failed to exceed the threshold on growth, as a result the data presented yesterday is a breath of fresh air for the world economy.

According to Hsbc, the banking giant that publishes indexes, nearly all Asian Nations are picking up in the sector. South Korea registered 47.4 against 45.7 in September; Taiwan rose to 47.8 from 45.6; the Indonesia came close to 52 against 50.5.

India also registered positively and passes from 52.8 to 52.9. In total, the industry exports rose by 1.2% compared to last year: a turnover of 47.2 billion dollars.

Li-gang Liu and Zhou Hao, of Anz Investment Bank, commented on the positive trend: "the improvement of indexes suggests that China's growth has restarted and that this trend will be further supported by this data". Now they expect the data rate of economic expansion, which in recent months has seen Beijing in freefall.



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