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Financial News: China Manufacturing PMI Rallies In November - Caixin

China Manufacturing PMI Rallies In November - Caixin

12/01/2024 - 20:51:00 (RTTNews)

(RTTNews) - The manufacturing sector in China continued to expand in November, and at a faster pace, the latest survey from Caixin revealed on Monday with a manufacturing PMI score of 51.5.

That's up from 50.3 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Central to the latest advancement in manufacturing sector conditions was greater new business inflows. Incoming new orders placed with Chinese manufacturers increased amongst the fastest rate in three-and-a-half years. A renewed rise in export orders also supported the rise in overall new orders.

Panelists revealed that better underlying demand conditions, new product launches and stockpiling following the US election were amongst the reasons for the rise in new work. Production levels increased on the back of higher new work, rising at the quickest rate since June, with intermediate goods makers recording the fastest rate of growth among the monitored segments.

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