MNI BRIEF: China Construction Output Slows In November
MNI (BEIJING) - China’s construction industry activity declined slightly in November, a Shanghai Metals Market survey published Thursday showed, with 35% of firms starting new projects, down 5 percentage points from October, and 65% continuing with existing projects but not receiving new ones.
China State Construction Engineering Corporation South China Branch and China Railway Construction Corporation Urban Construction Company told SMM no new projects were expected before year-end. SMM noted construction steel demand will decline In December as outdoor projects in north China gradually halt.
China’s economy will continue to improve in Q4 underpinned by strong manufacturing with official and private PMIs expected to remain within expansionary territory in November and December following their rebound above the 50-mark last month, mainland economists told MNI. (See: MNI: China Manufacturing PMIs To Remain Above 50 In Q4)