MNI: China Caixin Nov Manufacturing PMI Edges Up to 50.2

     BEIJING (MNI) - The Caixin China manufacturing Purchasing Managers Index

(PMI) rose 0.1 to 50.2 in November from October, hovering just above the 50

level that marks the level between contraction and expansion, signalling

continued stagnation of factory activities.

     New orders, which indicate future activity, saw a modest pickup, mainly

driven by domestic demand, Caixin said in a statement. New export orders fell

further, down for the eighth straight month, remaining in contraction territory,

dampened by weaker external demand, the publication said.

     "China's economy is weak, but it has not significantly deteriorated," said

Zhong Zhengsheng,chief economist at Caixin. Production is still in the process

of slowing, but businesses remain relatively confident, capital turnover has

improved slightly, and upward pressure on industrial product prices has eased,

Zhong added.

     The Caixin figure still showed an upward trend, the opposite of the

official PMI. The PMI as reported by the National Bureau of Statistics last

Friday plunged to 50.0, down from 50.2 in October, and dipped to the lowest

since 49.9 in July 2016.

     The Caixin PMI focuses on small and medium-sized manufacturers not surveyed

by NBS.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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