China's manufacturing PMI eases in November

0 Comment(s)Print E-mail Xinhua, November 30, 2023
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A worker is busy at a workshop of Chongqing Hongjiang Machinery Co., Ltd. in Yongchuan District of southwest China's Chongqing, Oct. 11, 2023. [Photo/Xinhua]

The purchasing managers' index (PMI) for China's manufacturing sector came in at 49.4 in November, down from 49.5 last month, data showed Thursday.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The production sub-index registered 50.7, remaining in the expansion territory, and the new order index logged 49.4. Specifically, demands in medicine, automobile, railway, shipping, and aerospace equipment witnessed steady growth.

The sub-index for large enterprises remained in the expansion zone at 50.5 in November, staying in the expansion territory for six consecutive months.

Growth of new driving forces accelerated. The PMI of high-tech manufacturing industries returned to the expansion territory, standing at 51.2, while that of equipment manufacturing industries stood at 51.6.

Enterprises anticipate manufacturing activities to pick up in the near term, with the sub-index for production and business expectations rising to 55.8 from October's 55.6 and remaining above 55 for five consecutive months.

Thursday's data also revealed that PMI for the non-manufacturing sector reached 50.2 in November, indicating robust activities in the service and construction industries.

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