China's factory activity shrinks in Nov amid widespread COVID curbs - Caixin PMI

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China's factory activity shrinks in Nov amid widespread COVID curbs - Caixin PMI - Channel News Asia

Quick Summary:

BEIJING : China's factory activity shrank in November as widespread COVID-19 curbs disrupted manufacturers' output, a private sector survey showed on Thursday, weighing on employment and economic growth in the fourth quarter.

The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose slightly to 49.4 in November from 49.2 the previous month and beat expectations of a Reuters poll of 48.9.

However, manufacturers were generally upbeat in November that production would increase over the next 12 months as they anticipated a recovery in output capacity and client demand when the pandemic recedes.