Chinese manufacturing hits 18-month high

By Editor
Chinese manufacturing hits 18-month high

China’s manufacturing activity grew at its fastest pace in 18 months in October, the National Bureau of Statistics (NBS) said on Friday, with the official purchasing managers’ index (PMI) advancing to 51.4 last month from 51.1 in September.

The data is another sign of increasing strength in the world’s second-largest economy, which grew 7.8 percent in the July-to-September quarter.

Manufacturing is a key driver of China’s growth and the country has set an overall growth target of 7.5 percent for the year.

The PMI index, which measures manufacturing activity in Chinese factories and workshops, is a widely observed monitor of the country’s economic health. A reading above 50 indicates expansion while anything below signals contraction.

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