Home World News China says official manufacturing PMI for November is 52.1 — beating expectations

China says official manufacturing PMI for November is 52.1 — beating expectations

61
0
China says official manufacturing PMI for November is 52.1 — beating expectations

Employees producing dolls in a manufacturing unit in Lianyungang, China’s Jiangsu province.

Stringer | AFP | One other Billionaire Information

China mentioned on Monday that manufacturing exercise expanded for the ninth straight month in November because the world’s second-largest economic system continues to get well from a stoop brought on by the coronavirus pandemic.

The official manufacturing Buying Managers’ Index (PMI) for November got here in at 52.1, in line with the Nationwide Bureau of Statistics. That is higher than the 51.5 forecast by analysts in a Reuters ballot and October’s official studying of 51.4.

PMI readings above 50 point out enlargement, whereas these beneath that sign contraction. PMI readings are sequential and present month-on-month enlargement or contraction.

China, the place instances of Covid-19 had been first detected, is among the many few economies anticipated to proceed rising this 12 months — however at a a lot sluggish tempo. The Worldwide Financial Fund has forecast the Chinese language economic system to broaden by 1.9% in 2020, slowing from the 6.1% final 12 months.

That is breaking information. Please test again for updates.