CHINA DATA: HSBC final Nov PMI provides fresh evidence of a moderate recovery in
China economic conditions. Output rose in November for first time in July,
increasing at the fastest since October 2011. Big surprise is the rise in new
export orders — the first since April. HSBC says over 17% of those surveyed
indicated growth, with “a number of firms” linking the rise to stronger demand,
particularly from Europe and U.S. CFLP’s November PMI new export order indicator
also moved back into expansionary territory last month for the first time since