China's manufacturing activity rebounded to expansionary territory in November after a six-month streak of contraction. This indicates that growth is stabilizing and business confidence is improving in light of supportive government policies, analysts said on Sunday.
The purchasing managers index for the manufacturing sector bounced back to 50.2 in November from October's 49.3, according to the National Bureau of Statistics. The growth beat many analysts' expectation for a below-50 reading.
A reading above 50 indicates expansion, while a reading below reflects contraction.
Analysts said the official factory gauge's return to the expansion zone indicated that the decelerating economic growth has shown sign of stabilizing and that the business outlook is brightening.
Source: ChinaDaily
