China: Further contraction in manufacturing activity in November, according to official PMI


(Reuters) – Manufacturing activity contracted at a faster pace in November on the back of restrictions put in place to tackle the coronavirus outbreak and a slowdown in global demand.

According to official data published on Wednesday, the PMI manufacturing index stood at 48.0 in November against 49.2 the previous month, once again below the 50 threshold which separates contraction and expansion of activity.

Analysts polled by Reuters on average expected an index of 49.0.

Separate data released by the National Bureau of Statistics (BNS) indicates that activity in the services sector also declined in November, due to the resurgence of the COVID-19 epidemic.

The official services PMI fell to 46.7 in November from 48.7 last month.

Combining the two sectors, the official composite PMI came in at 47.1 this month, down from 49.0 in October.

(Report Liangping Gao and Ryan Woo; French version Camille Raynaud)

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