China’s factories roared ever louder in November, defying a half-hearted recovery in the United States, rising global commodity prices, a mild slowdown in domestic growth and cooling measures imposed by Beijing.
Evidence of a vigorous manufacturing boom came from two separate purchasing managers’ indices. The official PMI generated by the China Federation of Logistics and Purchasing rose from 54.7 in October to 55.2 in November. Any reading above 50 shows expansion. The other report, produced by HSBC, climbed to an eight-month high of 55.3.
The numbers follow a sharp increase in consumer price inflation to a 25-month high in October