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.