CXSE - China's Manufacturing PMI improves to three-month high in November

2023-12-01 02:30:30 ET

• The Caixin China General Manufacturing PMI rose to 50.7 in November from 49.5 in October, beating market forecasts of 49.8 and pointing to the highest reading since August.
• Both output and buying levels returned to growth, amid recent efforts to revive a sluggish economy.
• New orders rose the most in four months while the rate of job shedding eased.
• “The macro economy has been recovering," said Dr. Wang Zhe, senior economist at Caixin Insight Group.
• "Considering that economic growth in the third quarter slightly exceeded expectations and the base number for fourth-quarter year-on-year growth is low, achieving the target of around 5% for the whole year looks attainable. Ultimately, policies should aim to lay a solid foundation for long-term economic growth and cultivate long-lasting market confidence."

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