China is mining much more coal again and that's boosting its factories

A government survey of manufacturing activity increased to 50.1 in November from 49.2 in October, according to data released by the National Bureau of Statistics (NBS) on Tuesday. It was the first reading above 50 — indicating expansion rather than contraction — in three months. It was also the first time since March that the index increased over the prior month.Beijing on Tuesday attributed the improvement to “recent policy measures” that have strengthened energy supply and stabilized soaring costs. “In November, power shortages eased and prices of some raw materials dropped significantly,” said Zhao Qinghe, senior statistician for NBS, in a statement.China has grappled with the power crunch for

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Elon Musk’s exit from California can save him $2 billion in taxes

“I am selling almost all physical possessions. Will own no house.”By Elon Musk’s standards, his May 2020 tweet wasn’t all that weird. “Possessions kind of weigh...

Making up for lost time, cargo ships are skipping Oakland and returning straight to Asia

By Augusta Saraiva | BloombergFollowing long delays at southern California’s logjammed ports, cargo ships are bypassing the Port of Oakland and heading directly back...

3 Google workers sue over firings stemming from Trump administration border project

By Joe Schneider | Bloomberg Three former Google employees sued the technology giant claiming they were wrongfully fired for challenging a plan to collaborate...