CHINA GEARS UP: Chinese manufacturing accelerated in October with spending on infrastructure projects spurring a jump in new equipment orders. Export demand remained subdued.
THE SURVEY: The state-affiliated China Federation of Logistics and Purchasing said its purchasing managers index rose to 54.7 in October from 53.8 September. Monthly readings have stayed above 50, the benchmark for expansion, for 20 straight months.
THE DETAILS: The survey showed strong growth in new orders transportation and general equipment thanks to strong stimulus spending. But new export orders remained flat, reflecting weakness in overseas economies. The survey warned of risks from surging prices for key raw materials, such as coal, cotton, grain, steel and rubber.