China’s manufacturing PMI edges up in November

China’s first domestically manufactured luxury cruise ship named Piano Land arrives at the Xiamen port in East China’s Fujian Province on Friday. The 70,000-ton ship with a passenger capacity of 1,880 will embark on its maiden voyage from the Xiamen port in the near future. Photo: VCG

 The purchasing managers’ index for China’s manufacturing sector firmed up to 50.2 in November from 49.3 in October, the National Bureau of Statistics (NBS) said Saturday.

A reading above 50 indicates expansion, while a reading below reflects contraction.

November’s figure re-entered the expansion zone, ending month-on-month contraction reported in the previous six months in a row, said NBS senior statistician Zhao Qinghe.

On a month-on-month basis, the sub-index for production gained 1.8 points to 52.6 in November, signaling faster expansion, while that for new orders rebounded by 1.7 points to 51.3, back in the expansion zone.

Improvements were seen in both supply side and demand side, with both indices at their highest level since the second half of the year, said Zhao.

Imports and exports were improving in November, said Zhao, as the NBS data showed the sub-index for new export orders gained 1.8 points to 48.8, while the index for imports climbed 2.9 points to 49.8.

Chinese enterprises in general reported prosperity rebounds, with the PMI of large enterprises up 1 point from the previous month to 50.9, back in the expansion zone.

In November, PMI of high-tech manufacturing, equipment manufacturing and consumer goods all rose for two consecutive months, showing accelerated transformation and upgrades, said Zhao.

Saturday’s data also showed China’s composite PMI went up 1.7 points from a month ago to 53.7, indicating faster business expansion.