Saturday, 07 December, 2019


China factory activity expands in seventh month after 6-month losing streak

China's factory activity unexpectedly returns to growth in November China factory activity unexpectedly returns to growth after 6 months
Conrad Doyle | 02 December, 2019, 05:40

Resilience in the sector led to a notable recovery in the labour market in the month, with companies adding workers for the first time in eight months.

The purchasing managers' index for China's manufacturing sector firmed up to 50.2 in November from 49.3 in October, the National Bureau of Statistics (NBS) said Saturday.

China's factory activity rebounded for the first time in seven months in November, data showed on Saturday, despite the looming threat of the new USA tariffs in few weeks if Beijing and Washington fail to sign a partial trade deal.

BEIJING-A private gauge of China's factory activity showed an expansion for the fourth straight month in November, following a sharp rebound in an official gauge, indicating warming demand for Chinese goods.

A component measuring new export orders had the first back-to-back monthly increase for over a year-and-a-half, Caixin and Markit said in a statement.

Which showed domestic consumption rose after Beijing repeatedly urged the local government to kick stimulus gears to meet economic goals before the end of the year. Factory output rose to 52.6 in November, marking the strongest pace since March.

"In the short term, we may have already passed the low point where the economy hit the bottom", Zhang Deli, a macro with Lianxun Securities analyst, wrote in a note.

A subindex of new export orders climbed to a seven-month high of 48.8 on easing trade tension, but was still in contraction, the data showed.

Manufacturing companies generally expected output to rise over the next 12 months, but the measure of future output expectations slipped to a five-month low in November.

One of the major pushed of new orders is that infrastructure investment has moved from the investment stage to the production stage.

US President Donald Trump said this week that the world economy close to reaching an agreement on the first phase of the agreement.

A trade deal has now stalled after the USA passed legislation backing protesters in Hong Kong, news website Axios reported on Sunday, citing a source close to Trump's negotiating team.

Their PMI index recorded the strongest gain in November, compared to medium-sized and large firms, but their performance was still the poorest of the three at 49.4.

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