China’s official manufacturing purchasing managers index fell to 49.6 in November, falling further below the 50-point line delineating contraction from expansion, Bloomberg reported, citing data from the National Bureau of Statistics. The non-manufacturing PMI rose to 53.6 from 53.1 a month earlier. “The data show further divergence in manufacturing and non-manufacturing sectors,” said Zhu Qibing, a Beijing-based analyst at China Minzu Securities Co. “Considering further cuts in overcapacity, the divergence will continue into at least mid-2016.” Another manufacturing PMI released by Caixin Media and Markit Economics edged up to 48.6 in November. The gauge has a smaller sample size and includes smaller companies and exporters.
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