12/1/2021, 2:50 AM (Source: TeleTrader)
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China's factory PMI dips into contractionary territory

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) came in at 49.9 in November, according to the latest report released by the IHS Markit on Wednesday.

The manufacturing activity expanded at a softer rate than it did in October with this month's number 0.7 lower than the previous reading, dipping below the neutral 50 with the global demand and disruption continuing to weigh on the sector's performance.

"Increased downward pressure and easing inflationary pressure were prominent features of the economic situation," Senior Economist at Caixin Insight Group Dr. Wang Zhe said.

Baha Breaking the News (BBN) / NL