Chinese factories bounce back

China’s manufacturing sector turned around recent bad times in November, according to a business survey out yesterday, hitting a 13 month high in output. China’s overall purchasing managers’ index for the manufacturing sector hit 50.4 in November, the figures from Markit and HSBC showed, just above the crucial no change level of 50, and thus back into expansion after a whole year of decline. Hongbin Qu at HSBC hailed the figures as showing a decisive improvement in the Chinese rebound. “This confirms that the economic recovery continues to gain momentum toward the year end,” Qu said. “However, it is still [in its] early stages and global growth remains fragile.”