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 Chinese orders rise but contraction continues- Chinese orders rise but contraction continues
- November 01, 2012
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China's manufacturing industry enjoyed a sharp improvement in trading conditions during October, with the latest HSBC Purchasing Managers' Index™ coming in at 49.5 - up from 47.9 the previous month.
The upward swing was in part thanks to a rise in new orders - the first increase for a year. Almost one in five of the firms surveyed for the PMI ™ reported a rise. However, the index remains below the key 50 mark, which indicates the difference between a contracting industry and one expanding.
While October's figure of 49.5 suggests the rate of contraction has slowed, it still represents the 12th month in a row in which the industry has shrunk. Employment and output levels were among the bu...
- View more at: http://www.1888pressrelease.com/chinese-orders-rise-but-contraction-continues-pr-434651.html
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