12/1/2023, 2:46 AM (Source: TeleTrader)
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China's manufacturing activity at 3-month high in November

The Chinese manufacturing sector returned to growth in November, according to the latest report by S&P Global published on Friday. The Caixin manufacturing Purchasing Managers’ Index (PMI) reached a three-month high of 50.7 compared to 49.5 in October, surpassing expectations. The biggest rise in new orders since June contributed to the upbeat figure, as did an increase in production. Supply chain issues eased and employment dropped at a softer pace than in previous months.

"Overall, the manufacturing sector improved in November. Supply and demand both expanded, prices remained stable, logistics improved, purchasing quantities increased, and manufacturers were more optimistic. However, external demand remained sluggish and employment weak, while manufacturers leaned toward caution in inventory management. The macro economy has been recovering. Household consumption, industrial production and market expectations have all improved. But domestic and foreign demand is still insufficient, employment pressure remains high, and economic recovery has yet to find solid footing," Senior Economist at Caixin Insight Group Wang Zhe said.

Baha Breaking News (BBN) / DJ