China's manufacturing downturn eases in Nov.

Thursday, 01. December 2022 02:46

Caixin China General Manufacturing Purchasing Managers' Index (PMI) came in at 49.4 in November, representing a slight increase of 0.2 index points compared to the month prior, according to the final report by S&P Global published on Thursday. The latest reading was below the 50-point neutral mark for the fourth straight month.

"Both manufacturing supply and demand continued to shrink last month due to the spreading Covid outbreaks and subsequent containment measures," while "employment took a dive" to the lowest level since February 2020, according to Caixin Insight Group Senior Economist Dr. Wang Zhe.

Meanwhile, business optimism rose despite pressure related to the coronavirus pandemic, the official added.

Related Links: 
Author:
Baha Breaking News (BBN) / MS