China takes fast lane in growth

China takes fast lane in growth

China’s manufacturing sustained rapid growth in November, shored up by the country’s strengthened economy and improved profit margins among producers, according to a pair of definitive indexes released Tuesday.
An index produced for HSBC, based on a poll of purchasing executives in manufacturing, hit a record high of 55.7 in November, while a parallel official index was unchanged at an 18-month peak of 55.2.
Together, the surveys showed that China’s economy has largely recovered from the global downturn thanks to aggressive pro-growth measures adopted a year ago.
The official Purchasing Managers’ Index, measuring manufacturing activity, settled at 55.2 last month, the same as the figure in October and up from 54.3 in September, the China Federation of Logistics and Purchasing said.