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China and India Manufacturing Ramp Up
While the rest of the world shows signs of life and inches closer toward economic recovery, China appears to be ahead of the curve.
China’s Purchasing Managers Index (PMI) inched only slightly upward in June to 53.2 from 53.1 the month before, but demonstrated its resilience as it recorded its fourth consecutive month of growth. The news prompted China’s benchmark Shanghai Composite Index to rise above 3,000 points for the first time in more than a year and reflected the nation’s massive $585 billion stimulus efforts that began in November.
“China’s recovery is gathering further momentum,” Bank of America Merrill Lynch economist Lu Ting told…
2Jul2009 | Money Morning | 0 comments | Continued
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