The index that measures manufacturing activity in China fell and reached a recession, as domestic and foreign demand weakened.
Caixin’s manufacturing index fell to 49.9 points from 50.6 points in October, stressing that the overall business conditions facing Chinese companies remained unchanged, according to data from Caixin Media and IHS Markit.
The result shows a different direction from the official figures. The official PMI announced yesterday showed a recovery of 50.1 points from 49.2 points in October.
“The output measurement index has risen for the first time in four months as supply problems have subsided,” Caixin said.
However, new orders from home and abroad fell in November, with some companies linking declining demand to a pandemic and high production prices, Caixin said.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
