China’s manufacturing activity expanded at a faster rate in November than it did in October, as companies revved up production and growth in new orders accelerated, official data showed Thursday, Caixin reports. China’s official manufacturing purchasing managers index (PMI) came in at 51.8 in November, accelerating from 51.6 in the previous month, according to the National Bureau of Statistics (NBS), which released the data jointly with government-linked industry group the China Federation of Logistics and Purchasing.
November’s reading was the second highest this year after September’s 52.4 and marked the 16th straight month that the index has remained above the 50 mark that separates expansion from contraction, pointing to improved economic resilience in the world’s second largest economy, experts said. The increase in new export orders picked up last month from October while overall new business rose at an even faster pace, suggesting domestic demand was also resilient, according to the survey.
Like this:
Like Loading...
