China Nov manufacturing PMI expands for second month

SINGAPORE (ICIS)–China’s November manufacturing purchasing managers index (PMI) rose to a seven-month high of 50.3, remaining in expansion territory for the second straight month, official data showed on Monday.

A private manufacturing PMI survey by media group Caixin showed similar trend, with a much higher November reading of 51.5, up from 50.3 in the previous month.

The Chinese government’s stimulus measures were cited as major expansion drivers.

According to China’s National Bureau of Statistics (NBS), both supply and demand improved in November, with the sub-production index rising to 52.4 from October’s 52.0, while the sub-new order index rising to 50.8 in November from 50.0 in October.

Meanwhile, Caixin’s November production index increased to the highest since July 2024, with the new order index hitting its highest since March 2023.

Companies surveyed cited some recovery in external orders, with November exports of big-ticket and intermediate items rebounding, while those of consumer products declined.