infoTECH News

TMCNet:  China to face robust restocking period in 2013 amid improving economy

[January 25, 2013]

China to face robust restocking period in 2013 amid improving economy

BEIJING, Jan 25, 2013 (Xinhua via COMTEX) -- China was to face a period of robust restocking in 2013 as the economy remained on track of improving, said analysts.

China Securities Journal reported Friday that Chinese factories were likely to restock inventories this year after a cycle of destocking that lasted over last year.

According to HSBC Thursday, the flash China Purchasing Managers Index (PMI) for manufacturing hit a 24-month high to stand at 51.9 in January, the fifth straight month for a higher preview figure, compared with a final reading of 51.5 last December.

HSBC also said on Thursday its PMI sub-index for new orders fell slightly to 52.7 in January, while levels of new export orders stood at 50.1 in January, signaling that domestic demand was outperforming global demand.

Meanwhile, the flash China manufacturing output index rose to a 22-month high of 52.2 in January, Thursday's data showed.

Analysts noted accelerated production from manufacturers did not draw down new orders,so restocking in China's real economy would give a boost to the country's manufacturing companies. (Edited by Ding Lei, dinglei@xinhua.org)

[ InfoTech Spotlight's Homepage ]


blog comments powered by Disqus

FOLLOW US

Subscribe to InfoTECH Spotlight eNews

InfoTECH Spotlight eNews delivers the latest news impacting technology in the IT industry each week. Sign up to receive FREE breaking news today!
FREE eNewsletter