china manufacturing at 13 month high

Got this off news wire. Also heard that wire prices rising in China
Shorters beware

China manufacturing at 13-month high
Thu 22 Nov 12, 14:12pm AEDT

By online business reporter Michael Janda


A key private sector measure of China's factory output is at its highest level in more than a year.

HSBC's Flash China Manufacturing PMI rose from 49.5 in October to 50.4 this month, which is a 13-month high.

The 50-point level separates expansion from contraction, making it the first time in more than a year that the reading has been above that point.

"As November's flash reading of HSBC manufacturing PMI bounced back to the expansionary territory for the first time in 13 months, this confirms that the economic recovery continues to gain momentum towards the year end," noted HSBC's chief China economist Hongbin Qu in the report.

"However, it is still the early stage of recovery and global economic growth remains fragile. This calls for a continuation of policy easing to strengthen the recovery."

The Flash PMI is based on around 85-90 per cent of the survey responses for the final PMI reading, which will be released next week.