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."
For further details see:
China’s Manufacturing PMI improves to three-month high in November