China’s manufacturing expanded for the first time in three months as output and new orders climbed, adding to signs growth in the world’s second biggest economy is rebounding after a seven-quarter slowdown.
The Purchasing Managers’ Index climbed to 50.2 in October from 49.8 in September, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing. A separate survey from HSBC Holdings Plc and Markit Economics was at an eight-month high.
The Shanghai Composite Index, China’s benchmark stock gauge, rose 1.7 percent, its biggest advance since Oct. 9. The index lost 5.9 percent in 2012 up until yesterday on concern the slowing economy will depress earnings growth.
In Europe, data from the Nationwide Building Society will show U.K. house prices in October rose from the previous month.