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(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

     BEIJING (MNI) - China's official purchasing managers' index for
manufacturing, jointly released by the China Federation of Logistics and
Purchasing (CFLP) and the National Bureau of Statistics (NBS), rose to 51.8 in
November from 51.6 in October, the agencies announced Thursday. 
     The November index was the second highest this year after the 52.4 reading
in September and matched the 51.8 reading in March. Sentiment rose more than
expected, with the MNI survey median forecast calling for an unchanged result of
     The November reading means that activity in the Chinese manufacturing
sector continued to rise, but at a faster pace than the month before.  
     The November reading rebounded from last month's drop. It was also the 16th
consecutive month that the reading has been above 50, the break-even mark. 
     Four of five major sub-indexes saw stronger sentiment in November. 
          --Manufacturing new orders index rose to 53.6 from 52.9 in October 
          --Manufacturing output index rose to 54.3 from 53.4 in October
          --Input price index fell to 59.8 from 63.4 in October
          --Business expectations index rose to 57.9 from 57.0 in October
          --New export orders rose to 50.8 from 50.1 in October
     The official services PMI also rose in November, to 54.8 from 54.3 in
October, the CFLP and NBS said. 
--MNI BEIJING Bureau; +1 202-371-2121; email:
--MNI Beijing Bureau; +86 (10) 8532 5998; email:
[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]