China manufacturing indicator reaches 7-month high

12/2/2012 | · China Daily (Beijing) · Wall Street Journal, The

China's purchasing managers' index touched a seven-month high at 50.6 in November, reinforcing indications that the Chinese economy -- particularly the manufacturing sector -- is pulling out of a slump. "Though the November PMI is a bit lower than the market expectation of 50.8, it remained above 50 and has risen for three months in a row, demonstrating that the country's real economy and financial market is improving," said Zhou Hao, an economist at ANZ Banking Group.

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