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