China's manufacturing rebound adds to talk of global recovery

Are the first signs of rebound appearing in the east? Possibly, but don't throw an economic expansion party just yet.

Manufacturing in China expanded for the first time in nine months, as export declines moderated and investment surged due to the government's $586 billion (four trillion yuan) stimulus package, as measured by the closely-followed, independent CLSA China Purchasing Managers Index. The CPMI rose to a seasonally-adjusted 50.1 in April from 44.8 in March, Reuters reported Monday. Readings above 50 indicate an expansion; below 50, a contraction.