China PMI buoys prospects

China PMI buoys prospects

Investors in natural resources stocks can take heart from the performance of China's manufacturing sector over the closing months of 2012. Official data showed that activity expanded in December for a third consecutive month, lending weight to the view that - following a prolonged downturn - the world's second largest economy actually bottomed out during the third quarter. According to China's National Bureau of Statistics, the official purchasing managers' index (PMI) stood at 50.6 in December, unchanged from the previous month. (A measure above 50 points to expansion.)

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