China’s official manufacturing Purchasing Managers’ Index (PMI) has expanded for the ninth straight month to 52.1 in November. A reading above 50 on the index indicates expansion.
The PMI, a key indicator of the health of a country’s manufacturing sector based on a survey of sentiment among factory owners, rose by 0.7 points compared to last month, according to data released by China’s National Bureau of Statistics on Monday. The reading continued to beat market expectations, with analysts polled by Reuters forecasting November’s reading to stand at 51.5.
Meanwhile, China’s non-manufacturing PMI, which reflects sentiment in the services and construction sectors, also finished higher than expected, increasing to 56.4 this month versus 56.2 recorded in October. (RT)
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