China manufacturing index up in December

BEIJING (AP) — China's manufacturing index rose in December to 50.3 percent, a slight rebound after a greater-than-expected fall in November.

The state-affiliated China Federation of Logistics and Purchasing said Sunday that its purchasing managers index, or PMI, rose 1.3 percentage points from 49 percent in November.

November's figure had been well below the 50-level that signifies expansion, and marked the first contraction in manufacturing activity since early 2009.

Federation analyst Zhang Liqun said the rebound signaled China should not expect to see a big slowdown in economic growth in 2012.

A competing Chinese survey released Friday, the HSBC China …