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Financial News: China's Private Sector Growth Momentum Improves Slightly

China's Private Sector Growth Momentum Improves Slightly

12/04/2017 - 23:48:00 (RTTNews)

(RTTNews) - China's private sector growth momentum improved marginally in November, survey results from IHS Markit revealed Tuesday.

The Caixin composite output index rose to 51.6 in November from October's 16-month low of 51.0. A score above 50 indicates expansion.

The Caixin PMI readings in November showed the economy has maintained stability and there was no imminent risk of a significant decline in its growth rate, Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, said.

"But we should be cautious because the economy may come under rising inflationary pressure at the start of next year due to continued price increases."

Activity growth improved across manufacturing and service sectors in November. In the manufacturing sector, the pace of growth picked up from October's four-month low, while services activity grew the most in three months.

The services Purchasing Managers' Index climbed to 51.9 from 51.2 in October.

Services companies logged robust expansion in new work as new client wins and promotional activities raised overall sales. At the composite level, new orders grew at the strongest pace since August.

Greater operational requirements contributed to a further rise in service sector staff numbers midway through the final quarter of 2017. Employment remained stagnant at the composite level as manufacturing firms continued to register lower workforce numbers.

Input prices faced by service providers rose only moderately in November. Composite input prices continued to rise markedly in the latest survey period.

At the same time, composite output charges gained at a moderate pace that was slightly faster than that seen in October.

Strengthening optimism towards the 12-month business outlook at services companies was offset by reduced positive sentiment at manufacturers in November. Consequently, total business optimism declined to its weakest since December 2015.

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