China Factory Activity Contracted in November, Overall Activity Sees Expansion

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In November, China’s manufacturing activity shrank for a second straight month, according to a National Bureau of Statistics official survey. The manufacturing sector’s official purchasing managers index dropped from 49.5 in October to 49.4, falling short of the 50-point threshold separating growth from contraction. The reduction was caused by a number of factors, including low market demand and certain manufacturing industries’ customary off-season. The production sub-index dropped to 50.7, and the new orders gauge dropped to 49.4. Non-manufacturing activity maintained expansion in November, with the purchasing managers’ index for the sector reaching 50.2 In November. the official composite PMI for the nation, which takes into account both manufacturing and non-manufacturing activities was 50.4.

Because of the high base effects of the Mid-Autumn Festival and National Day vacations, the service sector’s sub-index decreased to 49.3 in October from 50.1. While telecommunications, radio, television, satellite transmission services, monetary and financial services, and capital market services all stood over 55, the sub-indices of transportation, lodging, catering, and entertainment all saw declines.

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E.F Team

Our team at Eastern Finance is made up of young and knowledgeable professionals who are here to provide you with business news from an eastern perspective.

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