Surveys Show Steady Chinese Factory Growth In November

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Chinese factory workers on the job

Those who think China’s best days are behind it with regards to manufacturing should think again. It remains as good a time as any for US companies to have goods manufactured in China.

China’s factory growth stabilised in November aided by firm demand, a pair of surveys showed, a sign of resilience in the world’s second-largest economy that augurs well for its plans for structural reforms.

The final HSBC/Markit Purchasing Managers’ Index (PMI) stood at 50.8 in November, a survey showed on Monday, down a touch from October’s 50.9 but up from a preliminary reading of 50.4.

The encouraging outcome echoes an upbeat showing from the official PMI, which clung to an 18-month high of 51.4 in November, ahead of market expectations.

(H/T Reuters)

(image via Business Insider)