MNI China Daily Summary: Monday, April 29

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MNI BRIEF: China's November PMI Falls Further On Weak Demand

MNI (Singapore)
MNI (Beijing)

China's manufacturing Purchasing Managers' Index fell by 0.1 points to 49.4 in November, staying in the contractionary zone below the breakeven 50 mark for the second month, as some manufacturing industries entered the traditional off-season and weak demand weighed, data from the National Bureau of Statistics showed Thursday.

The production sub-index declined by 0.2 points to 50.7, while the new orders sub-index was 49.4, decreasing by 0.1 points from the previous month. Over 60% of manufacturers reported insufficient demand, which remains the recovery's main challenge.

Non-manufacturing PMI registered 50.2, declining from last month's 50.6. The business activity index in the service sector fell by 0.8 pp to 49.3 as the National Day holiday last month pulled up the comparison base.

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