China’s manufacturing activity shrinks in November

Caixin/S&P Global survey results show that China’s manufacturing Purchasing Managers’ Index (PMI) fell in November due to the COVID-19 epidemic, which is causing a production freeze in the industrial sector. This also affects employment and economic growth in the fourth quarter of this year.

The manufacturing PMI for November was 49.4, although it was higher than October’s 49.2 and exceeded expectations of 48.9. A reading below 50 means that the sector is in a contraction phase for the fourth month in a row.

China’s National Bureau of Statistics (NBS) already released the November manufacturing PMI yesterday, which fell to 48 from 49.2 in October.

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