China manufacturing picks up pace

21 November 2012 Last updated at 22:27 ET

A worker at a factory in ChinaChina's manufacturing sector has been hurt lately by slowing global demand

China's manufacturing activity expanded in November, according to a report by HSBC, the latest sign that its growth may be rebounding.

The bank's purchasing managers index (PMI) rose to 50.4.

A reading above 50 indicates expansion. This is the first time in 13 months the HSBC index has been above that level.

The latest data follows a rise in fixed asset investment, industrial production and retail sales in October, announced before China's leadership transition.

Qu Hongbin, chief China economist at HSBC said the expansion in manufacturing "confirms that the economic recovery continues to gain momentum towards the year-end".

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