China's Manufacturing Expands

China's economy is showing fresh signs of strength as a preliminary gauge of manufacturing activity rose to a 14-month high in December.

The flash reading of the HSBC China Manufacturing Purchasing Managers' Index showed manufacturing activity has expanded for a second straight month, adding to a raft of recent data signaling that the world's second-largest economy is steadily recovering.

"It confirmed that China's ongoing growth recovery is gaining momentum, mainly driven by domestic demand conditions," Qu Hongbin, chief China economist for HSBC Holdings PLC, said in a statement.

The reading also pointed to solid economic growth in the fourth quarter.

Nomura economist Zhang Zhiwei said the PMI reading reinforces his view that China's economy "is on track for a strong recovery," with growth likely to top 8% in the fourth quarter.

Read Full Article from Wall Street Journal

- Posted: 2012-12-14 13:32:58

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