By Timothy Ang
China’s manufacturing sector grew at a slightly faster rate last month, according to a key monthly survey run by Caixin, though demand remained subdued as doubts linger over the outcome of the US-China trade war.
The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) moved up to 50.2 in November from 50.1 a month before. A score of 50 marks no growth in the sector, while any score above 50 denotes expansion.
“Overall, domestic demand across the manufacturing sector improved in November, while overseas demand was still subdued,” said Zhong Zhengsheng, the economist who led the study. “China’s economy was weak, but did not show significant signs of deterioration.”
The new orders subindex saw a marginal improvement, pointing to slightly better demand conditions. This “may be due to a recent raft of government policies aiming to support the private sector,” said Zheng.
New export orders, meanwhile, contracted for the eighth month in a row amid tariff pressure from the US.