DHAKA: China’s manufacturing activity expanded in January at its fastest pace in two years, HSBC said Thursday, the latest sign of recovery in the world’s second biggest economy.
The British banking giant’s preliminary purchasing managers’ index (PMI) reached 51.9 for this month, up from a final 51.5 in December.
The January figure is the highest for 24 months, reports The Straits Times.
The index, compiled by information services provider Markit and released by HSBC, tracks manufacturing activity and is a closely watched barometer of the health of the economy.
A reading above 50 indicates expansion.
It only returned to positive territory in November after 12 consecutive months of contraction.
BDST: 1122 HRS, JAN 24, 2013
Edited by Robab Rosan, Cultural Affairs Editor- email@example.com
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