Manufacturing production in China fell for the second month in a row
Manufacturing production in China fell for the second month in a row in November. The Purchasing Managers' Index (PMI), published by the National Bureau of Statistics on Thursday, fell slightly to 49.4 points. A value below 50 indicates a decline in production activity.
In September, the index had been in positive territory for the first time since March. It then fell to 49.5 points in October. Experts had expected a better value of 49.8 points for November.
The purchasing managers' index for the non-manufacturing sector, which includes the service sector and construction, fell from 50.6 points in October to 50.2. This is the lowest value since December 2022. Observers had also expected an improvement here.
This increases the pressure on the government in Beijing to provide greater support for the weakening economy. A disappointing first half of the year had prompted the government to announce a series of targeted economic measures to support key sectors, particularly the severely ailing real estate sector.
Various indicators have recently pointed to a stabilization of the situation. In particular, economic growth in the third quarter was higher than expected. However, achieving the already low target of five percent growth this year remains questionable.
Source: www.ntv.de
