Andy Bruce and Lucy Hornby London and Beijing Chinese manufacturing returned to growth in November for the first time in over a year and the deep downturn in euro zone factories eased slightly, according to business surveys released yesterday. The purchasing managers indices (PMIs) suggest that China, whose economy has misfired this year, is regaining its vigour going into 2013. If sustained, it could prove vital for the world economy next year, since a meaningful recovery in Europe still looks a long way off. While the decline among the euro zone’s embattled factories eased to its best level in eight months in November, the latest...
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