Manufacturing PMI registers fastest growth since Oct 2016

Chinese manufacturing posts weakest reading in five month in private survey

While the forward-looking measure of new orders rose to 53.9 from 53.2, it was still softer than the strong performance seen in the first half of the year as the broader economy accelerated.

Growth in new export orders also recovered after slowing for four months, while factories hired staff at the fastest pace since June 2014.

That suggests a drag on the economy caused by the shock removal of higher-value currency bills from circulation in November 2016 and the roll-out of a goods and services tax (GST) this July has faded.

China's official manufacturing purchasing managers index (PMI) came in at 51.8 in November, accelerating from 51.6 in the previous month, according to the National Bureau of Statistics (NBS), which released the data jointly with government-linked industry group the China Federation of Logistics and Purchasing.

A new orders sub-index bounced back into expansionary territory to 54.2 in November from 49.9 the month before. It was still lower compared to the 56.3 posted a year earlier.

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A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction, Nikkei explained.

"The current phase of expansion led to business sentiment picking up as growth momentum seems likely to continue over the near-term", Aashna Dodhia, Economist at IHS Markit, said.

Survey data indicated that firms continued to face sharp cost increases, with input price inflation inching up to the highest since March.

But cost pressures remained strong in November, and may push inflation to breach the Reserve Bank of India's medium-term target of 4 percent.

Despite the Philippines' rosy manufacturing sector, Aw said robust economic activity has been marred by rising inflationary pressures, commonly associated with a weak exchange rate.

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