ZCZC
BCN-14
CHINA-ECONOMY-MANUFACTURING
China’s manufacturing PMI edges up in November
BEIJING, Nov. 30, 2019 (BSS/Xinhua) – The purchasing managers’ index for
China’s manufacturing sector firmed up to 50.2 in November from 49.3 in
October, the National Bureau of Statistics (NBS) said Saturday.
A reading above 50 indicates expansion, while a reading below reflects
contraction.
November’s figure re-entered the expansion zone, ending month-on-month
contraction reported in the previous six months in a row, said NBS senior
statistician Zhao Qinghe.
On a month-on-month basis, the sub-index for production gained 1.8 points
to 52.6 in November, signaling faster expansion, while that for new orders
rebounded by 1.7 points to 51.3, back in the expansion zone.
Improvements were seen in both supply side and demand side, with both
indices at their highest level since the second half of the year, said Zhao.
Imports and exports were improving in November, said Zhao, as the NBS data
showed the sub-index for new export orders gained 1.8 points to 48.8, while
the index for imports climbed 2.9 points to 49.8.
Chinese enterprises in general reported prosperity rebounds, with the PMI
of large enterprises up 1 point from the previous month to 50.9, back in the
expansion zone.
In November, PMI of high-tech manufacturing, equipment manufacturing and
consumer goods all rose for two consecutive months, showing accelerated
transformation and upgrades, said Zhao.
Saturday’s data also showed China’s composite PMI went up 1.7 points from
a month ago to 53.7, indicating faster business expansion.
BSS/XINHUA/HR/1255