China's factory activity contracts in November
China's factory activity contracted at a steeper pace in November amid renewed COVID-19 outbreaks and a more complicated and grimmer international environment, the National Bureau of Statistics said on Wednesday.
The official purchasing managers index for China's manufacturing sector fell to 48 in November after 49.2 in October, causing a second straight month of contractions, data from the NBS showed. That was the lowest since April of this year.
A PMI reading above 50 points signals expansion, while one below signals contraction.
Zhao Qinghe, a senior statistician with the NBS, linked COVID disruption to declines in both demand and supply in the manufacturing sector.
A sub-index for production came in at 47.8 versus 49.6 a month earlier, and a gauge of new orders came in at 46.4 compared with 48.1 in October.
China's non-manufacturing PMI came in at 46.7 after 48.7 in October. Also, the country's official composite PMI, which includes both manufacturing and services activities, came in at 47.1 in November compared with 49 in October, according to the NBS.