Business

China’s Caixin production gauge fell in November on weaker demand

A private gauge activity in China’s manufacturing sector slipped in November and fell into national territory as demand both at home and abroad weakened.

According to data from Caixin Media Co. and researcher Markit, the Caixin China purchasing managers index fell to 49.9 from 50.6 in October, showing the overall business conditions facing Chinese manufacturers. is unchanged, according to data released Wednesday by Caixin Media Co. and researcher Markit. A reading below 50 indicates contraction activity, while a reading below 50 means expansion.

Results point in a different direction from a competing official metric. The official PMI released on Tuesday bounced back into November expansion territory at 50.1, from 49.2 in October, ending a two-month decline stemming from the recession. power crisis. The official survey of manufacturers has a much larger sample than the Caixin survey, and tracks large state factories more closely.

“The output of the sub-index gauge increased for the first time in four months as disruptions to production schedules due to power supply problems eased,” Caixin said. However, new orders from both domestic and overseas fell in November, with some companies linking relatively low demand conditions to the pandemic and high output prices, Caixin said.

Wang Zhe, senior economist at Caixin Insight Group, said that due to weak demand, the employment sub-index “remained in negative territory for the fourth consecutive month in November, with an even pace of contraction. steeper than last month.”

Inflationary pressures have eased considerably thanks to the impact of regulations aimed at curbing soaring commodity prices, Wang said, and the inflation rate in November was the lowest since October 2020.

https://www.marketwatch.com/story/china-caixin-manufacturing-gauge-slipped-in-november-on-weaker-demand-271638325081?rss=1&siteid=rss China’s Caixin production gauge fell in November on weaker demand

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