Monday, February 11, 2013

Chinese Economy and Employment Expands

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China Manufacturing PMI, Services NMI, and Composite PMI by Month
PMI > 50.0 is expansion, PMI < 50.0 is contraction

Hongbin Qu, Chief Economist, China Co-Head of Asian Economic Research at HSBC, said: "Services activities resumed faster expansion on rising new business flows, along with the recovery of manufacturing growth. Still solid job gains plus higher business expectations bode well for further improvement of services sectors’ growth. Following the growth bottoming out in 4Q 2012, China’s growth recovery is now on a firmer footing."

Chinese Employment Expands "Staff numbers increased at a marked pace in the service sector during January, despite the rate of job creation having slowed from the previous month. Employment levels in the manufacturing sector also rose, albeit slightly. At the composite level, staffing levels increased modestly and at the fastest rate since May 2011."


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