The HSBC China Manufacturing Purchasing Managers' Index, compiled by Markit, increased +0.8 to 52.3 in January 2013, the highest since January 2011 (54.5).
China Manufacturing PMI by Month Manufacturing began expanding, an Index reading of greater than 50, in November 2012. The chart peak was 55.3 in November 2010. The PMI is a percentage - not a total.
PMI > 50.0 is expansion, PMI < 50.0 is contraction
Commenting on the China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “A higher reading of January final manufacturing PMI implies that China’s manufacturing activity is gaining further steam on the back of improving domestic conditions. We see increasing signals of a sustained growth recovery in the coming months: the steady investment growth led by infrastructure projects, the improving labour market conditions boosting consumer spending, and the ongoing re-stocking process to lift production growth.”
China Manufacturing PMI Moving Averages The short, intermediate, and long-term trends have reversed and are continue rising. The PMI is a percentage - not a total.
PMI > 50.0 is expansion, PMI < 50.0 is contraction
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