China's Manufacturing Data Signals Strengthening Recovery

China's Purchasing Managers’ Index rose to a seasonally adjusted 55.2, the highest level in 18 months, a sign that the nation's economic recovery is strengthening, reports Bloomberg, citing figures from the Federation of Logistics and Purchasing.

 

“External demand will provide an additional source of support for growth in the months ahead,” Brian Jackson, Hong Kong-based strategist for emerging markets at Royal Bank of Canada told Bloomberg. “This should provide scope for Beijing to start tightening policy from early 2010 while still keeping growth at relatively high levels.” 

 

Quoting Zhang Liqun of the State Council Development and Research Center, Bloomberg says China's economy may grow 9.5% from a year earlier this quarter--the third straight acceleration and the biggest gain since the second quarter of 2008.

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