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China factory activity growth accelerates in November

The expansion in factory activity in China was driven by an uptick in market demand, with production of consumer goods and high-tech equipment both acceleratingChina’s factory activity grew at its fastest rate in more than two years in November, official data showed Thursday, as cheap credit and improving demand helped revive industry in the world’s second-largest economy. The better-than-expected pick-up in the closely watched purchasing managers’ index (PMI) will provide fresh hope for stability after a long-running slowdown in economic growth. The official PMI, which gauges conditions at factories and mines, came in at 51.7 in November, its highest since since July 2014, the National Bureau of Statistics (NBS) said.

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