China’s manufacturing sector continued its upward trajectory in November, marking the second straight month of expansion and signaling accumulating positive trends in the world’s second-largest economy.
The manufacturing Purchasing Managers’ Index (PMI) rose to 50.3 in November, a slight increase from October’s 50.1, according to data released by the National Bureau of Statistics (NBS) on Saturday. This marks the third consecutive month of growth and the second month where the index remained above the 50-point threshold that separates expansion from contraction.
The uptick in the PMI was largely driven by significant improvements in key sub-indices such as new orders, production expectations, and purchasing volumes. These components saw notable gains, while the production index maintained steady growth. Collectively, these four main indices reached a seven-month high, reflecting a strengthening manufacturing sector.
Zhang Liqun, an economist and special analyst at the NBS, noted that the continued rise in the manufacturing PMI indicates clearer signs of recovery from the economic downturn. “Recent incremental policy measures are bolstering business confidence,” Zhang said. “We are seeing increasingly positive effects on the broader economy.”
Despite the manufacturing gains, the non-manufacturing PMI edged down slightly to 50.0 in November, a decrease of 0.2 points from October. The composite PMI, which combines manufacturing and non-manufacturing sectors, remained stable at 50.8, signaling steady overall economic performance.
Analysts observing the broader economic landscape anticipate that these positive trends will continue. Market demand and supply are showing steady growth, with new economic drivers and consumer goods manufacturing accelerating. Business expectations are also on the rise, reinforcing the trend of economic stabilization and recovery.
The data suggests that China’s economy is gradually gaining momentum, with indicators pointing to strengthening growth prospects in the coming months, according to the NBS.
Reference(s):
China's factory activity expands for second month in November
cgtn.com
