China's manufacturing PMI inches higher in Nov

Date 12/3/2018 2:51:12 PM Source: China Daily

The manufacturing sector in China recorded better-than-expected growth in November, as the latest survey by Caixin showed, adding some promising signs to the economy though downward pressure persists.

The purchasing manager index accelerated to 50.2 from 50.1 the previous month, exceeding market expectations for a reading of 50.1, according to the private survey on Monday.

The reading stood above the boom-or-bust line of 50 that separates expansion from contraction.

The sub-index measuring new orders edged up slightly to 50.9 in November from 50.4 in the previous month, while the output prices sub-index fell below to 49.8 in November, suggesting downward pressure for profit gains, data showed.

The official manufacturing PMI for November stood at 50, which was 0.2 percentage points lower than that of October, according to earlier data by the National Bureau of Statistics.