China: Manufacturing PMI ticks up in November
The manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) rose from 51.4% in October to 52.1% in November. Moreover, the print was above the 51.5% expected by market analysts. As a result, the index remained above the 50.0% threshold that separates expansion from contraction in the manufacturing sector.
November’s reading was the result of sizeable gains in the all-important output and new orders categories. Inventories also posted a remarkable improvement, while job creation reported a mild increase. The suppliers’ delivery times, however, worsened in the same month.