Michael Johnston submits:China’s Purchasing Managers Index rose for the tenth consecutive month in December, signaling a steady expansion in the country’s manufacturing sector. According to the China Federation of Logistics and Purchasing, the index increased to 56.6 in December, up from 55.2 in November. A reading above 50 indicates growth, while a reading below 50 indicates contraction. Of the 11 categories that compose the PMI, nine rose, one fell, and one was unchanged in December compared with November.
Bloomberg reports Chinese Stocks Slump Most in Three Weeks as Manufacturing Slows
China’s stocks fell, dragging the benchmark index down the most in three weeks, as data showed the country’s manufacturing growing at a slower pace.
LONDON — Europe’s factories delivered more signs last month the region is gradually leaving recession behind, according to business surveys that also eased immediate fears over the health of China’s economy.
Thursday’s purchasing managers indexes (PMIs), surveying thousands of manufacturers worldwide, showed output in British factories surged in July, and industrial activity in the eurozone rose for the first time in two years.
Financial data provider Markit Ltd. (MRKT) just released its monthly numbers for the US flash Purchasing Managers’ Index (PMI), an early indicator of industrial and manufacturing activity. The latest reading for the month of June was 57.5, above consensus expectations of 56.5.
Three of HTC Corp design executives have been arrested amid suspicions of leaking trade secrets. India’s largest automaker Maruti Suzuki announced today a 62.24% growth in its total sales in August. Today the S&P BSE Sensex erased some of its previous gains following a 200-point increase earlier in the day. China’s manufacturing sector has finally managed to end its three-month decline in August.
Mike Stall submits: China is the world’s largest consumer of copper, zinc and nickel and also among the leading consumers of other base metals. The country has one of the fastest growing auto sector (which has overtaken the US in size) and has plans for rapid expansion of railroads and other infrastructure segments. Not surprisingly, China’s demand growth is expected to be the single most important factor in determining the direction of metal prices.