New Business
Explainer | China’s economic recovery gathers pace, led by manufacturing, but risks remain
1. Manufacturing improvement ‘broad-based’
China’s official manufacturing purchasing managers’ index (PMI) – a survey of sentiment among factory owners – rose to 50.3 in November compared with October’s reading of 50.1.
The gauge hit a seven-month high and remained above 50 – which separates expansion from contraction – on a monthly basis.
The index had contracted for five straight months before October.
The manufacturing export order subindex rose to 48.1 in November, compared with 47.3 in October.
The Caixin/S&P Global manufacturing PMI, meanwhile, also rose to 51.5 in November from 50.3 the previous month, reaching its highest level since June.
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