MNI DATA IMPACT: Caixin China Nov PMI Surges To 10-Yr High

The Caixin China PMI for November rose 1.3 points to 54.9, the highest level since December 2010, indicating a sustained and strong recovery from the epidemic as manufacturing supply and demand grew strongly, according to publisher Caixin in an email announcement.

Here are key points MNI highlights:

The higher PMI was mainly supported by steeper increases in both supply and demand, as both the production and new-order sub-indexes rose to the highest levels in ten years.

The continuous and robust upturn in demand led to the fastest increase in employment since May 2011.

Though the upturn continued to be led by firmer domestic demand the growth in export orders was not as marked as for total new orders.

The business confidence sub-index regarding the 12-month outlook for output remained strongly positive in November due to planned company expansions and supportive state policies, despite easing slightly since October.

Caixin's unofficial PMI, which tracks small and medium-sized manufacturers, compares with the official PMI released on Monday which jumped 0.7 to 52.1 in November from October.