China’s manufacturing sector logged its strongest growth in a decade in November, to indicate a sustained recovery from the Covid-19 outbreak, survey data from IHS Markit showed Tuesday.

The Caixin manufacturing Purchasing Managers’ Index rose to 54.9 in November from 53.6 in October. A score above 50 indicates expansion in the sector.

This was the highest score since November 2010. The sector has expanded in each of the past seven months.

Manufacturing companies reported that production increased at the fastest pace in ten years driven by new orders as well as further recovery from the Covid-19 related disruptions seen earlier in the year.

New orders also advanced the most in a decade underpinned by firmer domestic demand. Growth in new export work was not as marked as that seen for total new orders.

The sustained and strong upturn in client demand led to the fastest increase in employment since May 2011. At the same time, firms raised their purchasing activity at the steepest rate since January 2011.

Greater market demand contributed to stronger inflationary pressures, with both input costs and output charges rising at sharper rates, the survey showed.

Business confidence regarding the 12-month outlook for output remained strongly positive in November, despite easing slightly since October.

“We expect the economic recovery in the post-epidemic era to continue for several months,” Wang Zhe, senior economist at Caixin Insight Group said.

“At the same time, deciding how to gradually withdraw the easing policies launched during the epidemic will require careful planning as uncertainties still exist inside and outside China,” the economist added.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.