CHINESE OUTPUT BOOSTS GLOBAL RECOVERY
China's manufacturing expanded for a 13th month on business sentiment in Japan rose to the highest since 2008 and factories in Britain and the euro region stepped up output as, the global economic recovery strengthened.
Bloomberg reported on Thursday, that the Purchasing Managers' Index for China rose to a seasonally adjusted 55.1 in March, from 52 the previous month, Hong Kong-based Li & Fung Group said today.
In Japan, the Tankan index of sentiment jumped to minus 14 in March from minus 25 in December, while Europe's manufacturing industry expanded at the fastest pace in more than three years. A gauge of United Kingdom manufacturing rose to a 15-year high.
Surging economic growth in China is pulling the global economy out of its worst slump in more than six decades and benefiting companies from Honeywell International Incorporated in the United States,to Germany's Bayerische Motoren Werke AG.
Stocks around the world rallied. In the US, the world's largest economy, manufacturing probably expanded last month at the fastest pace since 2005.