Chinese Manufacturing Data Rises To The Highest Level

According to a key survey, Chinese manufacturing activity expanded at the highest rate on record in December 2009. Meanwhile, the recovery for European manufacturers, led by those in the UK, gathered pace in 2009.

The HSBC Purchasing Managers' Index, which is based on a survey of more than 400 manufacturing companies, rose to a seasonally adjusted 56.1, up from 55.7 a month earlier. This is the highest level that has been achieved since the survey began in April 2004. The stimulus-fueled economies in Asia, especially China, have been recovering rapidly since the middle of last year.