China’s factory activity contraction deepens in November
2022.11.29 21:10
© Reuters. FILE PHOTO: Employees work on the production line of high speed train components during a government-organised media tour to a factory of German engineering group Voith, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China July 21,
BEIJING (Reuters) – China’s factory activity contracted at a faster pace in November, an official survey showed on Wednesday, weighed down by softening global demand and COVID-19 restrictions, underscoring the added pressure faced by the world’s second-largest economy.
The official manufacturing purchasing managers’ index (PMI) stood at 48.0 against a 49.2 reading in October, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll had expected the PMI to come in at 49.0.
The 50-point mark separates contraction from growth on a monthly basis.
