China could be overcoming the challenges imposed by austerity and economic woes in the rest of the world, if manufacturing numbers are any indication. Multiple assessments of its manufacturing demand are up, showing that the country is rising above financial woes troubling other regions.
Bloomberg reported Wednesday that a purchasing managers’ index from HSBC Holdings and Markit Economics provided a final reading of 49.3 for April, compared with March’s final number of 48.3 and a preliminary reading in late April of 49.1. In addition, a separate index from China’s statistics bureau and logistics federation, released Tuesday, was at 53.3, indicating the fastest growth in a year.
A reading below 50 indicates contraction, while a score above 50 shows expansion.