China’s export volumes are forecast to accelerate in the second half of 2009 as clear signs emerge of rising manufacturing activity. Trading website Alibaba reported a recovery in orders from North America for Chinese exports in the second quarter and predicted fourth quarter shipments would at least equal those of a year earlier. The Purchasing Managers Index (PMI) produced by the China Federation of Logistics & Purchasing continued to rise in July reaching 53.3, up from 53.2 in June and 53.1 in May. July was the fifth month in a row the PMI had remained above the critical 50 mark, the threshold separating manufacturing contraction or expansion. China’s economy grew by 7.9% in the second quarter compared to 6.1% in the first quarter, and further acceleration is expected in the second half of the year.
