China NBS PMI Manufacturing dropped from 49.2 to 48.0 in November, below expectation of 49.2. PMI Non-Manufacturing dropped from 48.7 to 46.7, below expectation of 48.0. Both readings were the lowest in seven months.
“In November, impacted by multiple factors including the wide and frequent spread of domestic outbreaks, and the international environment becoming more complex and severe, China’s purchasing managers’ index fell,” NBS senior statistician Zhao Qinghe said in a statement.
Zhao said domestic outbreaks in November caused “production activity to slow down and product orders to fall”, noting “increased fluctuation in market expectations”.