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
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
