Subscribe free to our newsletters via your
. Space Travel News .




POLITICAL ECONOMY
Asia growth hopes lifted by manufacturing data
by Staff Writers
Beijing (AFP) Nov 1, 2012


Manufacturing in Asia strengthened in October, data showed Thursday, with China seeing growth in activity for the first time in three months, stoking hopes the region is emerging from a drawn-out slowdown.

The figures come on top of other indicators tentatively pointing to an uplift from months of slumber caused by Europe's long-running debt crisis and a stuttering recovery in the United States.

In China the official purchasing managers' index (PMI) rose to 50.2 last month, up from 49.8 in September, according to the National Bureau of Statistics.

The result marked the first time since July that the figure stood above the 50.0 mark that indicates expansion, and adds to increasing optimism for the world's second biggest economy. Anything below 50 points to contraction.

Also Thursday banking giant HSBC released its own PMI for China, which came in at 49.5 for October, up from 47.9 in September. Despite being below 50 the figure points to a continuing uptrend and is a vast improvement on the more than three-year low seen in August.

"This improvement suggests that China's growth momentum has rebounded and this trend will be sustained further", economists Liu Li-Gang and Zhou Hao of ANZ bank wrote in a commentary after the release of the official PMI.

Thursday's numbers will fuel hopes China -- a key driver for global growth -- will begin to pick up the pace after seeing the rate of expansion ease significantly in recent months.

Latest data on exports, retail sales and government investment also point to a brighter outlook.

Elsewhere in Asia, which has suffered months of contraction in manufacturing activity, other surveys by HSBC showed improvements, with South Korea, Taiwan and India all picking up.

However, while the situation is getting better all but India and Indonesia remain in negative territory, highlighting that further improvement is needed before a full recovery in the sector can be trumpeted.

HSBC's PMI for South Korea was at a seasonally adjusted 47.4 in October compared with the 43-month-low 45.7 in September, while Taiwan's rose to 47.8 from 45.6 and Indonesia was up to 51.9, compared with 50.5.

Seoul also on Thursday also reported that exports bounced back in October after contracting for three months as demand in China and Southeast Asia improved.

October exports grew 1.2 percent from a year earlier to $47.2 billion, compared with a 2.0 percent contraction in September, according to government data.

HSBC's India PMI rose to 52.9 from 52.8, according to Dow Jones Newswires, although the sluggish improvement suggested the sector lacked vigour as the government battles to spur sluggish growth in the South Asian economy.

The indices, compiled by information services provider Markit and released by HSBC, track manufacturing activity and are closely watched barometers for the region's manufacturing-reliant economies.

Separately, the Australian Industry Group performance of manufacturing index rose to 45.2 in October from 44.1 in September, though remained in contraction for an eight consecutive month.

In a statement the group's chief executive Innes Willox blamed the ongoing weakness on the strong Australian dollar, soft demand in exports and "flat conditions across the non-mining sectors of the domestic economy".

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Chinese manufacturing expands in October
Beijing (AFP) Nov 1, 2012
China's manufacturing activity grew in October for the first time in three months, data showed Thursday, adding to hopes the economy is finally emerging from its recent slumber. The signs of upward momentum were reinforced by a separate survey by banking giant HSBC showing activity hitting an eight-month high. China's official purchasing managers' index (PMI) rose to 50.2 last month, up ... read more


POLITICAL ECONOMY
Ariane 5s are readied in parallel for Arianespace's next heavy-lift flights

Japan Plans to Launch New Carrier Rocket in 2013

EUTELSAT 21B and Star One C3 Set For Ariane 5 November Launch

Launcher assembly begins for Arianespace's seventh Ariane 5 mission in 2012

POLITICAL ECONOMY
Curiosity's Tastes of Martian Soil Offer Insights on Mineral Composition

NASA Rover's First Soil Studies Help Fingerprint Martian Minerals

Curiosity on Mars sits on rocks similar to those found in marshes in Mexico

Continuing Work With Scoops at 'Rocknest'

POLITICAL ECONOMY
Study: Moon basin formed by giant impact

NASA's LADEE Spacecraft Gets Final Science Instrument Installed

Astrium presents results of its study into automatic landing near the Moon's south pole

European mission to search for moon water

POLITICAL ECONOMY
Keck Observations Bring Weather Of Uranus Into Sharp Focus

At Pluto, Moons and Debris May Be Hazardous to New Horizons Spacecraft During Flyby

Sharpest-ever Ground-based Images of Pluto and Charon: Proves a Powerful Tool for Exoplanet Discoveries

The Kuiper Belt at 20: Paradigm Changes in Our Knowledge of the Solar System

POLITICAL ECONOMY
Physicists confirm first planet discovered in a quadruple star system

Planet-hunt data released to public

New Study Brings a Doubted Exoplanet 'Back from the Dead'

New small satellite will study super-Earths for ESA

POLITICAL ECONOMY
Orbiting Gas Stations for Satellites

ORBITEC's Rocket Engine Soars Above the Mojave Desert

First Space Launch System 'Pathfinder' Hardware Nearing Completion

S. Korea suspends rocket launch

POLITICAL ECONOMY
China to launch 11 meteorological satellites by 2020

China makes progress in spaceflight research

Patience for Tiangong

China launches civilian technology satellites

POLITICAL ECONOMY
Dawn Sees "Young" Surface on Giant Asteroid

Dawn On Route To Ceres

Whizzing Asteroid Turns Rocket Scientists' Heads

Lost asteroid rediscovered with a little help from ESA




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement