Investing

China PMI Soars

China’s official PMI numbers showed a sharp upturn. The information was released by the National Bureau of Statistics and the China Federation of Logistics and Purchasing.

The number reached 50.2, up from 49.8 in September. A number of 50 or above shows expansion.

It is still not clear where the goods that the PMI implies are being made go. The economies of the European Union and Japan have been badly damaged. The United States managed only a 2% improvement in gross domestic product in the third quarter. Europe’s unemployment remains at historic highs. Despite progress the U.S. joblessness rate is still near 8%. And there are concerns that Hurricane Sandy could cut in the growth in the fourth quarter.

It may be that China’s trade partners are restocking low inventory. If so, and fourth quarter activity is slow in the developed world, China’s manufacturing progress will be fleeting and will fall again next year.

Douglas A. McIntyre

Is Your Money Earning the Best Possible Rate? (Sponsor)

Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.

However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.

There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.