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Sunday, May 3, 2009

Chinese Manufacturing Expands

Marketwatch reports:

China's manufacturing sector expanded in April, marking its first growth in nine months, according to data released Monday by Hong Kong-based brokerage CLSA Asia-Pacific Markets.

The CLSA China Manufacturing PMI rose to 50.1 in April from 44.8 in March. A reading below 50 indicates deteriorating conditions, while above 50 indicates improvement.

"China's government has been extremely successful in stimulating investment, and, combined with a sharp improvement in export orders, this has pushed the PMI back into positive territory," wrote CLSA's head of economic research, Eric Fishwick.

Source: CLSA