Chinese Manufacturing PMI Growth Accelerates
Recovery in China’s manufacturing sector has accelerated as the country’s manufacturing Purchasing Managers’ Index (PMI) rose to 52.1 in November from 51.4 a month earlier, according to the National Bureau of Statistics. This was the highest since September 2017 and marked a ninth consecutive month of readings above 50.0, which designates expansion.
Meanwhile, data from the China Steel Logistics Professional Committee reveal the country’s steel sector PMI gained 3.5 points from October to 49.3 in November, the highest since June. Growth in infrastructure and real estate investment supported steel demand.