Posted: Nov 30, 2012 7:54 PM
Updated: Nov 30, 2012 7:56 PM
BEIJING (AP) A state-sanctioned survey has shown that China's manufacturing grew in November in the latest sign the world's second-largest economy is recovering from its deepest slump since the 2008 global crisis.
The China Federation of Logistics & Purchasing said Saturday its monthly purchasing managers' index improved to 50.6 on a 100-point scale on which numbers above 50 indicate activity is expanding. That was up 0.4 points from October's numbers.
The PMI index measures overall manufacturing activity by surveying numerous indicators including orders, employment and actual production.
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.
Growth slowed to a three-year low of 7.4 percent in the three months ending in September.