The hottest industrial data in China leads the pac

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China's industrial data are leading the pack

mainly driven by the growth of domestic demand, China's manufacturing output increased significantly in October, in sharp contrast to the general slowdown in other parts of Asia

the purchasing managers' index (PMI) released by the China Federation of logistics and purchasing rose from 53.8 in September to 54.7 in October, indicating that despite Beijing's efforts to slow the economy to avoid an asset foam, growth is still strong. The widely watched HSBC China Manufacturing Purchasing Managers' index, also released on Monday, rose from 52.9 to 54.8. This is one of the largest month on month growth since the data was first released in April 2004

purchasing managers' index above 50 points indicates economic expansion, otherwise it indicates economic contraction. The latest data showed that China's manufacturing industry rose rapidly for the third consecutive month in October

HSBC said that the speed of Chinese manufacturing enterprises expanding new businesses reached a six-month high, compared with a relatively small increase in export orders, indicating that the growth was mainly from the domestic market

Quhongbin, chief China economist of HSBC, said that these strong figures showed that China's economy would grow at an annual rate of about 9% in the fourth quarter of this year

China's figures are in sharp contrast to the PMI figures reported by South Korea, Taiwan and Japan. The manufacturing industry in these regions was suppressed during the global financial crisis. After the crisis, it experienced rapid growth, but now it continues to slow down

the HSBC Taiwan PMI index fell to 48.6 from 49 in September, falling for three consecutive months, indicating that the problem of CPLD design and operation of economic universal testing machine is shrinking. The HSBC South Korea PMI index fell from 48.8 to 46.7, below 50 for the second consecutive month

the Nomura Japan manufacturing purchasing managers' index released last Friday fell from 49.5 to 47.2, contracting for the second consecutive month. This shows that the Japanese economy is slowing down, and the strong yen is hurting most Japanese manufacturers

the slowdown in industrial activity in other parts of Asia outside China suggests that economic growth is slowing, although the region has experienced very high growth rates after the global financial crisis

from April 2009 to June this year, the gross domestic product (GDP) of the region except Japan soared by 9%, mainly due to the 25% growth rate of industrial production in the same period. This reflects that the growth of domestic consumption has fully compensated for the decline in exports to western developed economies

the first clear signal that Asia's overall economic growth may be slowing comes from Singapore. The preliminary GDP data for the third quarter released by Singapore in October showed that after seasonal adjustment, the country's economy contracted by 19.8% month on month, much larger than the consensus expected

in comparison, the growth rate of the country's economy in the second quarter was 24% and 45.7% in the first quarter. Affluent Singapore is often the vane of Asia. When the financial crisis came in 2008, Singapore was the first country in Asia to begin recession; A year later, it was also the first country to resume growth

the calculation of Credit Suisse, an investment bank, shows that except for Japan and China, the growth rate of industrial production in Asia will fall to the lowest level of 3.5% in January next year, while the long-term average of this growth rate is 6.1%

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what reveals the slowdown trend of production is the gradually declining PMI index. This index tracks a series of indicators, such as business confidence, price, how many years it will take and the number of new orders. Some leading indicators in Singapore and Australia showed a contraction in October, and even fast-growing India is expected to report a slowdown

although the growth rate of manufacturing industry in many countries has slowed down, no country is expected to fall into depression again. The Asian Development Bank (ADB) raised its GDP growth forecast for Asia except Japan from 7.5% to 8.2% in 2010, and expected the GDP growth of this region to reach 7.3% in 2011

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