There is data out today that shows manufacturing activity in China grew in May. Two different purchasing managers' indexes were above 50 which means growth in activity. This is good news for the global economy as China appears to be coming out of the recession which will eventually mean most of the rest of the world will as well. The stimulus program in China is being touted as having an impact on this growth.
The global stock exchanges certainly think we are moving out of recession. The Hong Kong market was up 4% overnight and the Dow is up significantly today despite GM's bankruptcy filing.
I believe we will look back on this recession as a very difficult time, but a time that set the stage for further growth and prosperity long-term. Here's a link to a Newsweek article on the above data. Have a great Monday afternoon!
http://www.businessweek.com/ap/financialnews/D98HKJQG0.htm
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