Posted 11/30/2023, 2:00:14 AM
China Manufacturing Activity Contracts for Second Month, Highlighting Uneven Economic Recovery
- China's manufacturing activity contracted for 2nd straight month in November, with official PMI falling to 49.4 from 49.5 in October
- Contraction signals China's economy continues to struggle to mount strong recovery post-pandemic
- Recovery remains uneven despite some government support measures; more stimulus seen as needed
- Constraints limit central bank's ability to provide more monetary stimulus
- Separate non-manufacturing PMI also weakened to 50.2 from 50.6 in October