China's manufacturing activity surged to a two-year high in January on higher domestic and foreign orders, according to a closely watched preliminary private survey.
The HSBC flash purchasing managers' index (PMI) rose to 51.9 in January, the highest since January 2011. The index, compiled based on 85 percent to 90 percent of total responses of a survey involving more than 420 companies, showed a reading of 51.5 in December. A level above 50 indicates an expansion in the sector from the previous month.
"At 51.9, January's HSBC China manufacturing PMI rose for the fifth consecutive month to the highest level in two-years, heralding... (Continue Reading)
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