China's November factory growth clings to 18-month high

China's factory growth held at an 18-month high in November on firm domestic and foreign demand, defying expectations the economy faces a modest slowdown as 2013 draws to a close. Investors had expected the PMI, one of the earliest pieces of Chinese data released each month, to show China's economy decelerated in the fourth quarter on slacker credit growth, fragile global demand, and slower restocking of inventories by firms. "The export order data suggests that global demand - key to the outlook for China's manufacturing - improved a bit." Experts will welcome the unexpected PMI strength as a sign that China can press on with sprawling plans outlined last month to cut back central economic planning without fear of endangering growth.

by via Yahoo! Finance: Top Stories