So, is the recession really over? The signs are that, while a hoped-for recovery is a long way from reality in most global economies (Russia, for example, is predicting negative economic growth of -6.5 per cent this year), the Chinese manufacturing sector may at have emerged from its darkest late-2008 days – and is showing renewed signs of sustainable life.
The Chinese manufacturing sector’s Purchasing Managers’ Index rose for a seventh consecutive month in September, according to the China Federation of Logistics and Purchasing. The index inched up to 54.3 (on a scale whereby a mark of 50 signals expanded activity), rising 0.3 percentage points compared to August.
At the same time, the International Monetary Fund has raised its forecast for China’s 2009 economic growth to 8.5 per cent (up from 7.5 per cent). Chinese growth for 2010 is projected to be slightly up on 2009, at 9 per cent.
[...] This post was mentioned on Twitter by China Works, chinalyst. chinalyst said: Bye Bye, Recession? :: China Works: China Manufacturing Blog http://cli.gs/0mbSJ [...]