China’s manufacturing sector has returned to growth, according to a survey which adds to evidence that the world’s second-biggest economy is experiencing a moderate rebound.
The official purchasing managers’ index, a gauge of industrial activity, rose to a four-month high of 50.2 in October from 49.8 in September. In edging past the 50 level that separates expansion from contraction, the PMI suggests that Chinese factories are getting busier – but only just.
“This shows the economy has already bottomed out and stabilised,” said Zhang Liqun, an economist with the Development Research Centre, a think-tank under the State Council, or cabinet. “We expect that economic growth has stopped slowing and there will now be a slight recovery.”
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