manufacturing expanding

China says manufacturing expanding
Saturday 02 march 2009

BEIJING: China’s manufacturing activity expanded in April to its highest level for a year, according to data released Friday, in an indication that the nation’s economy might be showing signs of recovery. The official Purchasing Managers’ Index, or PMI, for the manufacturing sector rose to 53.5 in April, up from 52.4 in March, the China Federation of Logistics and Purchasing said in a statement on its website.
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 A reading above 50 means the manufacturing sector is expanding, while a reading below 50 indicates an overall decline. Manufacturing accounts for more than 40 percent of the economy in China, which has been hit hard by evaporating demand for its products in key export markets such as the United States and Europe.

what is PMI? The manufacturing PMI is a composite index based on the diffusion indices for the five major components with the following weightings: new orders (30%), output (25%),employment (20%), supplier delivery times (15%), and inventories (10%).PMI reading above 50 points indicates that the manufacturing economy is generally expanding and that the economy is generally declining when the reading fells below 50 points.

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