Rising PMI Suggests Robust Chinese Recovery

China's Purchasing Manager's Index (PMI) gained 0.9 points from September to a record high of 55.2 in October since May, the China Federation of Logistics & Purchasing said Sunday.

It was the eighth straight month that saw a reading above 50 that indicates an expanding manufacturing sector.

One below 50 signals contraction. Only one of the 20 industries closely watched reported a reading below the critical point; the figures for the industries linked to raw materials, energy, and fast moving consumer goods stood above 55%.

The nation's PMI compiled by HSBC climbed to 55.4 from 55 in September.