China's Nov PMI seen hitting 7-month high
Updated: 2012-11-28 17:19
China's factory activity in November probably expanded at its fastest pace in seven months, reinforcing views that recovery in the world's second-largest economy is entrenched going into the final quarter of the year.
China's official purchasing managers' index in November may have rebounded to 50.6 from October's 50.2, the median estimate of 11 economists polled by Reuters showed, the latest evidence a recovery in the vast manufacturing sector was gathering momentum on the back of a revival in domestic demand.
The 50-point line demarcates accelerating from slowing activity in PMI survey methodology.
An employee checks on a steel product at a steel production factory in Wuhan, Hubei province, Aug 2, 2012. [Photo/Agencies]
China's economy has shown positive changes since September, with an array of economic indicators from factory output to retail sales and investment pointing to an uptick in the broader economy, as Beijing's pro-growth policies start to bite.
China's annual economic growth dipped to 7.4 percent in the third quarter, slowing for seven quarters in a row and leaving the economy on course for its weakest showing since 1999.
The official PMI survey will be released on Saturday at 0100 GMT, ahead of the final HSBC PMI reading due at 0145 GMT.