Green shoots: China manufacturing improves in Oct
BEIJING (AP) - China's manufacturing improved in October, adding to signs the world's second-largest economy might be recovering from its deepest slump since the 2008 global crisis, two business surveys showed on Thursday.
The state-sanctioned China Federation of Logistics and Purchasing's monthly purchasing managers index improved to 50.2 from September's 49.8 on a 100-point scale on which numbers above 50 indicate activity is expanding.
Separately, HSBC said its own PMI improved to an eight-month high of 49.5 from September's 47.9, though it still showed activity contracting.
The Chinese numbers are rare good news for the world economy, which has slowed as Europe's chronic debt crisis worsened and the American economy stagnated.