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China’s manufacturing PMI hits 3-year low in November

by ChemOrbis Editorial Team - content@chemorbis.com
  • 01/12/2015 (12:02)
According to data from China’s National Bureau of Statistics, the country’s official purchasing managers index (PMI) hit the lowest level seen since August 2012, declining to a reading of 49.6 in November. The November PMI also fell below Bloomberg economists’ estimates, which called for a steady trend from a previous month at a reading of 49.8. Any reading below 50 indicates a contraction while any reading above 50 represents an expansion.

However, China’s non-manufacturing PMI rose to a reading of 53.6 from October’s 53.1, which helped offset the slowdown in China’s manufacturing activities. The official PMI report showed that readings of output, new orders, inventories and employment all weakened in November from a month earlier.

However, another manufacturing PMI released by Caixin and Markit Economics revealed that China’s manufacturing index increased to 48.6 in November, beating economists’ expectations calling for a reading of 48.3. This index includes more small and medium sized companies compared with the official data, which focuses mostly on larger firms.
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