MNI BRIEF: China November PMI Rises Further Above 50
China's Manufacturing Purchasing Managers Index rose by 0.2 points to 50.3 in November, staying above the 50 mark for the second month, as additional pro-growth policies continued to take effect, data from the National Bureau of Statistics showed Saturday.
The production and new orders sub-indices rose by 0.4 and 0.8 points, to 52.4 and 50.8, with the new orders sub-index rising to the expansion range for the first time since May. (See MNI: China Manufacturing PMIs To Remain Above 50 In Q4)
Non-manufacturing PMI registered 50.0, down 0.2 points from the previous month. The business activity sub-index in the service sector remained unchanged at 50.1, though the expectation sub-index rose by 1.1 points to 57.3, the highest level in the past five months. Travel-related spending, such as accommodation and catering, declined to varying degrees due to the fading effect of the National Day holiday.