Posted on 11/30/2021 7:07:59 PM PST by BenLurkin
China's economy is finally getting some good news: Its big factories are staging a recovery as a power crunch that held back production starts to ease because of a big jump in coal supply.
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.
The result was notable. China — which uses more than half the world's coal supply and is already the largest emitter of carbon — set a new daily record for coal production in mid-November, according to statistics from the National Development and Reform Commission (NDRC).
The agency's "strong interventions" mitigated the "overall power shortage" and eased cost pressures on some industries, analysts from Citi wrote in a Tuesday research report. The power woes had pushed up the cost of aluminum, steel and other raw materials, rippling through industries like carmaking and construction.
(Excerpt) Read more at cnn.com ...
Very true...amazing that he made it to the White House at all.
It is amazing. And The Party busies itself using every corrupt means it can think of to keep PDJT and We the People down.
Of course bitcoin has been destroying gold/silver in the hedge against inflation sweepstakes.
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