Asia's rapid recovery from last year's recession appeared to be confirmed on Monday by a slew of positive reports on industrial production that suggested economic growth is powering steadily ahead, led by China and India.
Purchasing managers' index reports for China, South Korea, Taiwan and India appeared to confirm that a robust and widespread recovery continues to be under way.
The China Manufacturing PMI, produced by HSBC and Markit Economics, rose to 56.1 in December, up from 55.7 a month earlier – the second fastest rise yet recorded by the survey, which dates back to 2004. The average rise for the fourth quarter of 2009 as a whole was also the fastest yet recorded.
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