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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Chinese manufacturing continues to expand in Nov

Chinese manufacturing continues to expand in Nov

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Hanoifortune

Hanoifortune
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

BEIJING -- China's manufacturing activity saw an increase for the third straight month in November, official data showed Saturday.

The purchasing managers' index rose to 50.6 percent in November from 50.2 percent in October, above the 50-percent figure that demarcates expansion from contraction, according to data released by the China Federation of Logistics and Purchasing.

Standing above the boom-bust line, the November index indicated that the economy may continue to pick up moderately, said Cai Jin, CFLP vice chairman.

Readings for sub-indices have also indicated expansion. The sub-index for new orders climbed 0.8 percentage points from October to 51.2 percent last month. The export order sub-index for November stood at 50.2 percent, up 0.9 percentage points from the previous month.

"Increases of new orders and improvements in some PMI sub-indices means companies have finished destocking, which points to further expansion in coming months," said Zhang Liqun, an analyst with the Development Research Center of the State Council, a government think tank.

The PMI rebounded to 49.8 percent in September, ending four straight months of decline.

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