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31/12/2012 02:17:41 AM
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Publish Date31/12/2012 02:17:41 AM
Last Update31/12/2012 06:20:43 AM
HSBC Holdings Plc Manufacturing Purchasing Managers’ Index for December advanced with fastest pace since May 2011, adding to signs that the world’s second largest economy is recovering from recessions and bad atmosphere global atmosphere.
China`s HSBC manufacturing PMI rose to 51.5 in December from 50.5 a month earlier, while analysts’ expectations were 50.9.
The recovery in the manufacturing sector supports expectations for growth recovery during the present period. Thus, it offers brighter signs that China will increase imports of mineral resources in the period ahead in line with the rise of demand for oil.
Meanwhile, People’s Bank of China and the government’s policies are focused on supporting growth to help buoy domestic spending as well as support exports, especially after tightened monetary policies fulfilled the target and anchored inflation rates.
Chinese outlook keeps giving more and more confidence despite global instability as well as U.S. economy and its fiscal cliff threat and Japan’s negative performance amid the newly-elected government.
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