CHINA MANUFACTURING ACTIVITY PICKS UP, EMPLOYMENT FALLS

China's official November manufacturing PMI just came out.

The good news is that the measure climbed to 50.6 from 50.2 a month ago

However, it was a tad below economists' expectation of 50.8.

Any reading above 50 signals growth.

China is the world's second largest economy. It's also the world's primary source of economic growth.

All of the individual components of the report improved except for employment and supplier delivery times.

Here's a break down of the sub-indices via Bloomberg:

	November 2012	October 2012
Output	52.0	51.4
New Orders	50.5	49.6
New Export Orders	49.4	48.2
Backlogs of Work	45.2	45.1
Inventories of Finished Goods	48.3	48.1
Purchases Quantity	50.8	49.9
Imports	48.2	47.7
Input Prices	51.8	50.5
Inventories of Raw Materials	47.4	46.5
Employment	48.9	49.1
Supplier Delivery Times	49.8	49.9

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