China Witnesses Growth in Manufacturing Sector


China Witnesses Growth in Manufacturing Sector

It has been revealed in a survey of private factory managers that manufacturing sector in China has been witnessing a healthy rise. The survey has revealed that the sector has witnessed maximum rise since May 2011.

The trend is expected to continue in New Year as well. The survey has revealed that the surveyors have taken into account a sub-index of new orders as well. The new orders for 2013 have indicated that the trend will continue.

It has been found that the HSBC Purchasing Managers' Index rose to 51.5, which was an increased version in comparison to preliminary one that was 50.9. "Such a momentum is likely to be sustained in the coming months when infrastructure construction runs into full speed and property market conditions stabilize", said Hongbin Quk, who is the chief economist of HSBC in China.

Experts said that the rise in demand is good for country's economy. Some of the other experts have linked increased demand with domestic demand. In addition, it has also been revealed that Infrastructure, steel, cement and housing are some of the other sectors that have been showing growth, said analyst Zhang Zhiwei, who is from Nomura International, which is Hong Kong.


Latest News

Professor writes ‘prank’ physics paper using iOS autocomplete
Twitter plans to shrink its workforce by about 8%
Elon Musk talks about SpaceX’s plans to test ITS’ huge fuel tank at sea
Hackers cut access to some of the world's best known websites on Friday
Dinosaur bones found in Alaska’s Denali National Park
Californians to vote on marijuana legalization measure next month
Microsoft posts $20.5B revenue for July-September 2016 quarter
Tesla is equipping its vehicles with hardware required to make them fully self-d
Orbital’s Antares rocket returns to flight with successful cargo launch
Twitter Would Need New Strategy for Growth as Salesforce Walks Out of Deal
Verizon versions of Google Pixel will get all updates “simultaneously” with non-
Samsung Galaxy Note 7 handsets banned from airline flights in US