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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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China’s factories show accelerated growth

Category : Business, Stocks

HSBC said its initial Chinese purchasing managers’ index, or PMI, rose to a 13-month high of 50.4 in November from 49.5 last month.

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China PMI factory data signals return to growth

Category : Business

Both public and independent purchasing managers’ indexes indicate a pick-up in world’s second-largest economy

China’s economy is finally regaining some traction, official and private sector factory surveys showed on Thursday, although they pointed to a sluggish recovery with the latter recording its 12th straight month of slowing growth.

The National Bureau of Statistics reported the official October Purchasing Managers’ Index (PMI) rose to 50.2 from 49.8 in September.

The surveys add to other signs of economic revival in October after domestic credit curbs and weak demand from overseas markets pushed down third-quarter growth to its lowest rate since the depths of the global financial crisis.

It marked the first reading above 50 – which divides a pick-up in activity from a slowdown – since July and backed the view that growth could be picking up in the world’s second-largest economy.

The HSBC Purchasing Managers’ Index rose to 49.5 in October from 47.9 in September. The reading was the highest since February, and deviated more than usual from the October flash, or preliminary, reading of 49.1 released last week.

“October’s final PMI rose to an eight-month high, implying that China’s industrial activity continues to bottom out following a modest pick-up last month,” wrote HSBC economist Hongbin Qu in a statement accompanying the survey.

“This is mainly driven by the increase of new orders, thanks to the filtering-through of the earlier easing measures, while exports outlook remains challenging.”

Recent data has shown signs that the economy stabilised in September and the factory surveys are one of the first indications it began perking up in October.

Economic activity in the fourth quarter is widely expected to pick up after annual growth slowed to 7.4% in the third quarter. That would put it on track to beat the government target of full-year growth of 7.5% or above.

The private HSBC PMI captures views mainly of smaller, export-oriented firms in China’s vast factory sector.

The employment sub-index rose to its highest level in eight months, but it remained below 50. China has so far avoided the massive job losses or urban unrest feared by the ruling Communist party, which has seen a year of political drama as factions ready for a once-in-a-decade leadership transfer in November.

After monetary loosening moves earlier in the year, credit supply in China has increased while inflation has stayed low, allowing planners to relax and hold off on further measures. Some analysts expect additional moves after the 18th party congress in November to present the new leadership with an economic boost.

The central bank injected a record amount of cash this week via open market operations. That should enable banks to lend more to support the economy.

China’s September HSBC PMI prints at 47.9, up slightly from last week’s flash read of 47.8, and from August’s 47.6. New Export Orders declined at the sharpest rate in 42 months, but still didn’t match the speed of decline in overall New Orders….

Category : Stocks, World News

China’s September HSBC PMI prints at 47.9, up slightly from last week’s flash read of 47.8, and from August’s 47.6. New Export Orders declined at the sharpest rate in 42 months, but still didn’t match the speed of decline in overall New Orders. “Chinese manufacturing growth is likely to be bottoming out,” says HSBC, which calls on Beijing to step up its stimulus measures. Post your comment!

View post: China’s September HSBC PMI prints at 47.9, up slightly from last week’s flash read of 47.8, and from August’s 47.6. New Export Orders declined at the sharpest rate in 42 months, but still didn’t match the speed of decline in overall New Orders….

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Friday’s economic calendar: 8:30 Personal Income and Outlays 9:45 Chicago PMI 9:55 Reuters/UofM Consumer Sentiment1:00 PM Fed’s Fisher: ‘An Analysis of the Current State of the Economy and Business Environment’

Category : World News

Friday’s economic calendar:
8:30 Personal Income and Outlays
9:45 Chicago PMI
9:55 Reuters/UofM Consumer Sentiment
1:00 PM Fed’s Fisher: ‘An Analysis of the Current State of the Economy and Business Environment’ Post your comment!

More here: Friday’s economic calendar: 8:30 Personal Income and Outlays 9:45 Chicago PMI 9:55 Reuters/UofM Consumer Sentiment1:00 PM Fed’s Fisher: ‘An Analysis of the Current State of the Economy and Business Environment’

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China’s flash PMI ticks up from last month’s final – HSBC flash at 47.8, from the 47.6 of a few weeks ago – but the overall month looks to be the 11th straight month of contraction in Chinese manufacturing. S&P 500 futures -0.1%; Chinese markets…

Category : World News

China’s flash PMI ticks up from last month’s final – HSBC flash at 47.8, from the 47.6 of a few weeks ago – but the overall month looks to be the 11th straight month of contraction in Chinese manufacturing. S&P 500 futures -0.1%; Chinese markets little changed, with Shanghai down 0.1%. Post your comment!

Excerpt from: China’s flash PMI ticks up from last month’s final – HSBC flash at 47.8, from the 47.6 of a few weeks ago – but the overall month looks to be the 11th straight month of contraction in Chinese manufacturing. S&P 500 futures -0.1%; Chinese markets…

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China’s official PMI 49.2 in August vs. 50.1 in July and consensus of 50. It’s the first time since November that the gauge has fallen below 50 and indicated contraction. "It shows the economy is moving downward," says the China Federation…

Category : Stocks, World News

China’s official PMI 49.2 in August vs. 50.1 in July and consensus of 50. It’s the first time since November that the gauge has fallen below 50 and indicated contraction. “It shows the economy is moving downward,” says the China Federation of Logistics & Purchasing, which produces the figures, “but is bottoming out considering changes in the major subindexes.” 4 comments!

More here: China’s official PMI 49.2 in August vs. 50.1 in July and consensus of 50. It’s the first time since November that the gauge has fallen below 50 and indicated contraction. "It shows the economy is moving downward," says the China Federation…

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It’s always struck as curious the way capitalists (at least nominally so) put their faith in a group of Beijing Mandarins to guide the Chinese economy into just the right spot. Goldman’s Paul O’Neill describes the government’s muted response to the…

Category : World News

It’s always struck as curious the way capitalists (at least nominally so) put their faith in a group of Beijing Mandarins to guide the Chinese economy into just the right spot. Goldman’s Paul O’Neill describes the government’s muted response to the severe growth slowdown as maybe a clever way of achieving the vaunted rebalancing of the economy. (latest

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China’s factory slump deepens

Category : Business, Stocks

More bad news about China’s factories: An index known as PMI measuring China manufacturing has contracted for the first time in nine months. Decline may add pressure for government stimulus.

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Friday’s economic calendar: 9:45 Chicago PMI 9:55 Reuters/UofM Consumer Sentiment 10:00 Factory Orders 10:00 Bernanke: ‘Monetary Policy Since the Crisis’ 3:00 PM USDA Ag. Prices

Category : World News

Friday’s economic calendar:
9:45 Chicago PMI
9:55 Reuters/UofM Consumer Sentiment
10:00 Factory Orders
10:00 Bernanke: ‘Monetary Policy Since the Crisis’
3:00 PM USDA Ag. Prices Post your comment!

View post: Friday’s economic calendar: 9:45 Chicago PMI 9:55 Reuters/UofM Consumer Sentiment 10:00 Factory Orders 10:00 Bernanke: ‘Monetary Policy Since the Crisis’ 3:00 PM USDA Ag. Prices

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More on China PMI: New Orders fell to 46.6 from 48.7, while New Export Orders slumped to 44.7 – the lowest read since the depths of the financial crisis. Inventories rose to 53.6, the highest level in the 8 year history of the series. "Beijing…

Category : Stocks

More on China PMI: New Orders fell to 46.6 from 48.7, while New Export Orders slumped to 44.7 – the lowest read since the depths of the financial crisis. Inventories rose to 53.6, the highest level in the 8 year history of the series. “Beijing must step up policy easing to lift infrastructure investment in the coming months,” says HSBC. Post your comment!

Read the original: More on China PMI: New Orders fell to 46.6 from 48.7, while New Export Orders slumped to 44.7 – the lowest read since the depths of the financial crisis. Inventories rose to 53.6, the highest level in the 8 year history of the series. "Beijing…

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