China's flash PMI jumps to 50.4

Good sign: manufacturing activity is alive and kicking once more.

According to BBVA Research, China’s Markit/HSBC Flash PMI showed a notable increase to 50.4 in November, compared with a final reading of 49.5 in October, marking the first time since October 2011 that the Markit/HSBC PMI has been above the 50 threshold, which indicates that manufacturing sector activity for small-and-medium enterprises is expanding once again.

Here's more from BBVA Research:

The RMB responded favorably, ending the day at a record high against the USD at 6.2219. Together with other recently released macro data from China, the latest Flash PMI points to China’s improving growth momentum.

Looking ahead, we will be closely watching the upcoming ”official” PMI (due out on Dec 1st) as well as important November activity indicators due around Dec 9th for further signs of growth stabilization. We expect China’s growth will pick up in the fourth quarter and improve further in the first quarter of next year.

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