BEIJING (Reuters) – Manufacturing activity in China grew unexpectedly in November, shows a private survey published on Friday, driven by an increase in new orders.
The manufacturing sector PMI index calculated by Caixin/S&P Global stood at 50.7 in November, compared to 49.5 the previous month, above the threshold of 50 which separates contraction and expansion of activity.
This is a number higher than the consensus, which stood at 49.8.
“The economy is evolving at different paces across sectors, although we hope policies will remain proactive, helping to maintain overall growth momentum in the coming quarters,” HSBC economists said on Thursday.
According to the survey, new orders grew in November at their fastest pace since June.
Beijing has implemented a range of stimulus measures to promote the recovery of the world’s second largest economy, particularly facing a crisis in the real estate sector and weakening global demand.
The new exports index stood at 49.0 in November, while the manufacturing sector is affected by weak external demand.
(Report; Camille Raynaud)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
