China manufacturing grows after 13-month slide

BEIJING (AP) ? A private survey says China's manufacturing has expanded for the first time in 13 months in November, a further sign that the world's No. 2 economy is recovering from its deepest slump since the 2008 global crisis.

HSBC's monthly Purchasing Managers' Index improved to 50.4 for November on a 100-point scale on which numbers over 50 indicate expansion. It is the first time in 13 months that the reading has been above 50. That was a moderate improvement from October's 49.5.

The PMI indexes measure overall manufacturing activity by surveying numerous indicators including orders, employment and actual production.

The Chinese numbers are rare good news for the world economy, which has slowed as Europe's chronic debt crisis worsened and the American economy stagnated.

Source: http://news.yahoo.com/china-manufacturing-grows-13-month-slide-032409548--finance.html

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