China's Manufacturing Activity Expands on New Orders - The Diigo Meta page

• 03 Oct 08
  

  Wade Ren

  economy china

  • The output index rose to 54.6 in September from 48.7 percent in August, while the index of new orders climbed to 51.3 from 46. The index of export orders increased to 48.8 from 48.4, the statement said.

  • Rising domestic consumption may help shield China's manufacturers from weaker exports. Retail sales grew 23.2 percent in August from a year earlier, close to the fastest pace in at least nine years. Fixed-asset investment in Chinese urban areas jumped 27.4 percent in the first eight months of 2008, up from 26.7 percent in the same period last year.

     

    ``China is not just sitting around, waiting for orders for Christmas toys and mobile phones from U.S. retailers,'' said Carl Weinberg, chief economist at High Frequency Economics Ltd. in New York. ``The boom in China's trade has been nice icing, but China's economic cake is baked at home.''

     

    To contact the reporters on this story: Luo Jun in Shanghai at  jluo6@bloomberg.net;

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