China Manufacturing Grows
Manufacturing in the world’s second largest economy has seen growth for the first time this year, as the effects of the mini-stimulus by Beijing appear to be working. HSBC says its purchasing managers index (PMI) was at 50.8, which is where it was in November, before a decline which took the figure below 50 for the first five months of 2014. The index is closely watched as an indicator of economic health. Although growth has been good in China this year, manufacturing output is key to keeping the economy on the rise. Asian stocks reacted largely well, especially Japan’s Nikkei, which ended Monday on a 5 month high. Read the full story.