Fri, 06 Dec 2019

Near-2% growth in factory activity in China in November

Lola Evans
02 Dec 2019, 05:34 GMT+10

BEIJING, China - Factory orders in China accelerated in November resulting in growth for the first time in 7 months.

They attributed it to the recent stimulus measures adopted by Beijing. If so, the climb may be short-lived. Exports remain under pressure given the lengthy and volatile trade negotiations with the United States, and the prospect of more tariffs coming on stream in the weeks ahead.

The Purchasing Managers' Index (PMI) climbed back to 50.2 in November, its highest level since March, China's National Bureau of Statistics (NBS) said on Saturday.

This was a 1.83% improvement on the previous month's reading of 49.3.

Analysts had forecast a continuation of the stagnation of recent months and were surprised at the sudden upturn.

"In the short term, we may have already passed the low point where the economy hit the bottom," Zhang Deli, a macro analyst with Lianxun Securities, said in a note to clients.

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