China’s November manufacturing PMI hit year’s high

China's purchasing managers' index (PMI) for the manufacturing sector rose in November from a month earlier to hit a 12-month high.

The data from the national statistics bureau (NBS) indicates a further expansion in China's manufacturing activity, with a reading above 50 indicating expansion. The November manufacturing PMI was 0.1 point higher than in March, which followed increased economic activity after the nationwide lockdown in February because of the Covid-19 outbreak in the country.

The production and new orders sub-indexes were both higher against October and recorded their highest level in the past 12 months.

The export new order index was also in expansion range for a third consecutive month, higher by 0.5 point from October to 51.5pc, which also also a 12-month high.

China manufacturing PMI PMI Sub-indexes Production New order Raw material inventory Employer Supplier delivery time Nov 19 50.2 52.6 51.3 47.8 47.3 50.5 Dec 19 50.2 53.2 51.2 47.2 47.3 51.1 Jan 20 50.0 51.3 51.4 47.1 47.5 49.9 Feb 20 35.7 27.8 29.3 33.9 31.8 32.1 Mar 20 52.0 54.1 52.0 49.0 50.9 48.2 Apr 20 50.8 53.7 50.2 48.2 50.2 50.1 May 20 50.6 53.2 50.9 47.3 49.4 50.5 Jun 20 50.9 53.9 51.4 47.6 49.1 50.5 Jul 20 51.1 54.0 51.7 47.9 49.3 50.4 Aug 20 51.0 53.5 52.0 47.3 49.4 50.4 Sep 20 51.5 54.0 52.8 48.5 49.6 50.7 Oct 20 51.4 53.9 52.8 48.0 49.3 50.6 Nov 20 52.1 54.7 53.9 48.6 49.5 50.1 Source: NBS

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