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- China's Manufacturing Sector Shows Improvement in October - Editor, 24 October 2012
- Domestic Consumer Confidence High Despite Slowdown in Economic Growth - Editor, 9 October 2012
According to the purchasing managers' index published by HSBC – the British multinational financial services and banking company located in London – conditions in China's manufacturing sector showed a slight improvement in October, supporting the view that the country's overall economy has, at the very least, stabilized. October's reading for the purchasing managers' index was 49.1 points on a 100-point scale, compared with 47.9 points for September and is the strongest reading in three months. This improvement is seen as evidence of a gradual improvement in overseas demand, together with a positive response to the stimulus measures Beijing has been introducing over the past 12 months or so. However, the index remains below the 50-point level which separates contraction and expansion, revealing that considerable challenges remain.
Celebrated at the beginning of October, China's Golden Week holiday sees millions of Chinese citizens traveling, socializing and spending more than usual. To cash in on this lucrative time of the year, retailers offer substantial discounts and promotions in the annual battle for the lion's share of consumer spending. Reports indicate that overall retails sales grew by 15 percent during the holiday period, which happened to coincide with the country's mid-Autumn festival to extend the break from routine to a period of eight days, and consumer sentiment is strong despite the ongoing reports of a slowdown in economic growth.
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