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MNI BRIEF: Caixin China Nov Mfg PMI Still In Contraction Zone

MNI (Singapore)
MNI (Beijing)

China's November Caixin manufacturing PMI edged up 0.2 points to 49.4, remaining in the contraction zone below 50 for a fourth consecutive month amid tightening measures to curb Covid-19 outbreaks, the financial publisher said Thursday.

The production sub-index further weakened below 50, while the new orders sub-index rebounded slightly within the contraction zone. The new export orders sub-index fell further and contracted for a fourth month amid a slowing global economy and logistics difficulties in China, Caixin said.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on Wednesday, covers mainly large state-owned companies and fell 1.2 points to 48 in November.

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