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China’s Factory Activity Expands For The First Time In 7 Months In November

By Staff

Data released on Saturday showed that China's November factory activity rebounded for the first time after six consecutive months of slowdown.

Purchasing Managers' Index (PMI), a measure of activity in the country's factories, rose to 50.2 in November, up from 49.3 in the previous month, the National Bureau of Statistics said.

The 50-point mark separates growth and contraction each month.

China’s Factory Activity Expands For The First Time In 7 Months In November

The improvement comes despite the threat of fresh tariffs on the country's exports if the US and China fail to sign their partial trade deal.

A sub-index of new export orders climbed to a 7-month high of 48.8, however, it remained in contraction as demand wanes for China's exports abroad.

There is optimism around Beijing and Washington edging closer towards a partial deal to end their trade war that has been dragged on for almost 20 months.

The two largest economies in the world have slapped tariffs of nearly half a trillion dollars in two-way trade.

The Chinese government took several measures to stimulate its economy that saw its slowest pace of growth in almost 3 decades during the July-September quarter.

Read more about: china pmi
Story first published: Saturday, November 30, 2019, 15:19 [IST]
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