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Manufacturing Activity in China Falls to 3-Year Low
A Chinese government index of manufacturing activity has dropped to a 39-month low, suggesting the country’s economy is continuing to cool.
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A Chinese government index of manufacturing activity has dropped to a 39-month low, suggesting the country’s economy is continuing to cool.
The official manufacturing purchasing managers index fell to 49.6 in November from 49.8 in October. The PMI has now been below 50, indicating contraction, for four consecutive months.
A second measure, the Caixin PMI, rose to 48.6 in November from 48.3 in the previous month. But it also continues to show contraction. The Caixin, which is more heavily weighted toward small export companies, has indicated negative growth for nine months.
Analysts predict China’s central government will continue to ease monetary policy to help stabilize the economy next year.
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