China PMI index hits new highs

Xinhua Beijing, January 4 (reporter Zheng Feng) National Bureau of Statistics, China Logistics and Procurement Association released information, December 2009 National Manufacturing Purchasing Managers Index (PMI) was 56.6%, a new high since May 2008.　　The survey found that the December National PMI index was higher than last month's 1.4%, and 10 consecutive months at the critical point (50%) above, indicating that China's manufacturing sector overall continued to maintain a good momentum of recovery. The December PMI classification index, with the exception of the main raw materials inventory index, has been upgraded. Among them, the production index was 61.4%, up 2% from last month; The New Order index was 61%, up 2.6% from last month.　　This shows that the continuous rise in production, market demand is also increasing. The survey showed that in December PMI, the main raw materials purchase price index was 66.7%, higher than last month 3.3%, hit a record high of nearly 1.5.　　This shows that the cost of manufacturing production continues to increase, influenced by recent increases in commodity prices, such as coal and oil, and the adjustment of non-resident electricity prices. PMI is an important international macroeconomic precursor index. China's PMI fell to 38.8% in November 2008, hit by the international financial crisis. In the stimulus package, PMI rallied, the first time in March 2009 to exceed the tipping point of 52.4%, after the overall rally.