Official data: China’s manufacturing activities weakened in November
The National Bureau of Statistics in an official statement said more than 60% of the surveyed manufacturing companies reported sufficient demand
For the second month in a row, China’s manufacturing activities remained in the contractionary territory as insufficient demand and the interminable downward spiral in the property market hurdled recovery.
Official data from the National Bureau of Statistics (NBS) showed the manufacturing purchasing managers’ index (PMI) stood at 49.4 in November compared to 49.5 in October.
The National Bureau of Statistics in an official statement said more than 60% of the surveyed manufacturing companies reported sufficient demand, which become a primary challenge to the current recovery and development of the manufacturing industry.
A sub-index measuring new orders received by Chinese factories slipped to a five-month low of 49.4 in November with new export orders worsened to 46.3.
The non-manufacturing PMI, which provides a reading into the service and the construction sectors, stood at 50.2 in November, down from 50.6 the month earlier. A sharp decline in the service sector dragged the reading as the construction activities gained 2.0 points month-on-month to 55 points.