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MNI BRIEF: China Manufacturing PMI Rebounds To 3-Month High

SINGAPORE (MNI)

An electricity shortage has eased in the past month.

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The China Purchasing Managers' Index (PMI) rebounded to 50.1 in November from October's 49.2, back to expansion above the breakeven 50 level, hitting the highest in three months, as an electricity crunch eased and the prices of some raw materials dropped significantly, data from the National Bureau of Statistics on Tuesday showed.

Both production and demand recovered, with the production and the new order sub-index rising to 52.0 and 49.4, respectively, up 3.6 and 0.6 percentage points from October. New export orders also rebounded 1.9 pps to 48.5 with the Christmas spending season approaching.

The non-manufacturing service index decreased slightly by 0.1 pp to 52.3, remaining a steady recovery.