China’s National Bureau of Statistics (NBS) said the country’s manufacturing purchasing managers’ index (PMI) slowed more than expected in November, dropping to 50.3 from 50.8 in October.
November’s manufacturing PMI was the lowest level since March but stayed above the 50-point level that separates growth from contraction on a monthly basis.
Among the sub-indices of the PMI, the production index posted 52.2, down 0.6 percentage point from a month ago while the index of new orders dropped to 50.9, slipping by 0.7 percentage point, while employment lost 0.2 percentage point to 48.2.
NBS analyst Zhao Qinghe said that while the official PMI fell in November, it was still in positive territory and underlined the fact that China’s manufacturing sector is still expanding.