Chinese manufacturing accelerates in November

Chinese manufacturing activity expanded in November, a sign that the pace of economic growth has rebounded, a survey showed this morning.

The China HSBC Flash Manufacturing Purchasing Managers’ Index climbed above the critical 50 level – which separates growth from contraction – for the first time in 13 months.

The index stood at 50.4 in November, the latest indicator of recovery following firmer exports and rising industrial output in the previous month.

Qu Hongbin, chief China economist at HSBC, said that the data “confirms that the economic recovery continues to gain momentum towards the year end”.

The Chinese economy grew 7.4 per cent over the three months to September, the slowest quarter of growth since the financial crisis.