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Surveys show China manufacturing holds steady

December 01. 2013 9:36PM
Associated Press

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(AP) Two surveys show Chinese manufacturing barely expanded in November and grew at about the same rate as the month before in further proof that the world's No. 2 economy is undergoing a sluggish recovery.

HSBC's purchasing managers' index released Monday slipped to 50.8 from 50.9 in October.

The index uses a 100-point scale on which numbers above 50 indicate expansion.

HSBC said that while November's reading was little changed, it was the second-highest level in eight months, indicating China's massive manufacturing sector was improving, though marginally.

The report comes a day after an official survey that found manufacturing activity was unchanged.

The China Federation of Logistics and Purchasing said on Sunday that its PMI remained at 51.4, the same from October.

Associated Press

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