China manufacturing strongest in 18 months
BEIJING (AP) - A survey of Chinese companies has found the country's manufacturing grew at its fastest pace in 18 months in December.
HSBC said on Monday that its purchasing managers' index rose to 51.1 per cent on a 100-point scale on which numbers above 50 show expansion. That was up from November's 50.5 and the strongest growth since May 2011.
The survey adds to data that show China's economy is recovering from its deepest downturn since the 2008 crisis but some industries are still weak.
HSBC said companies responding to its survey said total new orders grew at a faster pace than in November but new export orders fell slightly.