CHINA MANUFACTURING ACTIVITY PICKS UP, EMPLOYMENT FALLS

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China’s official November manufacturing PMI just came out.The good news is that the measure climbed to 50.6 from 50.2 a month ago

However, it was a tad below economists’ expectation of 50.8.

Any reading above 50 signals growth.

China is the world’s second largest economy.  It’s also the world’s primary source of economic growth.

All of the individual components of the report improved except for employment and supplier delivery times.

Here’s a break down of the sub-indices via Bloomberg:

 

  November 2012 October 2012 Output 52.0 51.4 New Orders 50.5 49.6 New Export Orders 49.4 48.2 Backlogs of Work 45.2 45.1 Inventories of Finished Goods 48.3 48.1 Purchases Quantity 50.8 49.9 Imports 48.2 47.7 Input Prices 51.8 50.5 Inventories of Raw Materials 47.4 46.5 Employment 48.9 49.1 Supplier Delivery Times 49.8 49.9

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