Chinese manufacturing expands for 11st straight month

Posted by Aliuser on Feb 3, 2010 in China Import and Export

The official China Manufacturing Purchasing Managers’ Index (PMI), a barometer of the mainland’s manufacturing activities, settled at 55.8 percent in January, the China Federation of Logistics and Purchasing said.

Despite the fact that the PMI slipped 0.8 percent points from a month earlier, it is still on the upward trend for 11 consecutive months. The data adds up to a picture of an economy that’s on track for acceleration.

Meanwhile, the HSBC China Manufacturing Purchasing Managers’ Index (PMI) rose to 57.4 last month from 56.1 in December, reaching a record high since the survey began in April 2004.