China’s factory indicator unexpectedly rises as global demand companies increase



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Bloomberg News

Updated

The official factory indicator of China unexpectedly increased to close to five The point of manufacturing purchasing managers rose to 51.8 in November, compared to the forecast of 51.4 in a survey of Bloomberg economists and 51.6 of the previous. mes

  • Non-manufacturing PMI rose to 54.8 from 54.3 in October, the National Bureau of Statistics said on Thursday
  • Numbers greater than 50 indicate better conditions
  • Overview

    Both foreign and domestic consumers are taking product measures from China's factories as world demand continues to be buoyant, and that keeps producer inflation and increases corporate profitability . That strong demand has offered a cushion for economic growth, as officials ordered polluting factories to close or reduce production during the winter, a season that often sees China's north covered by smog.

    Economist Takeaways

    "The cyclical slowdown that everyone expected has not yet appeared," said Zhou Hao, an economist at Commerzbank AG in Singapore and the only badyst in the Bloomberg survey to accurately forecast the manufacturing PMI. Such a strong performance will exercise pressure on the bond market, he said, adding that "inflation will continue at least at the beginning of next year."

    "The end of the year is usually a weak season for manufacturing," said Liu Xuezhi. , an badyst at Bank of Communications Co. in Shanghai. "Next year I should still see constant readings of PMI since exports are solid and, despite the downward pressure, investment will remain stable."

    "The decent PMI of today is due to strong production and optimistic new orders," said Raymond Yeung, chief China's Big Economist at the Banking Group of Australia and New Zealand in Hong Kong. "The growth momentum is not on the supply side but on the demand side"

    Details

    • New manufacturing orders collected up to 53.6 from 52.9
    • New export orders increased to 50.8 from 50.1 [19659008] The PMI of the steel industry increased to 53.1 from 52.3

    – With the badistance of Xiaoqing Pi, Miao Han, Yinan Zhao, Ailing Tan and Kevin Hamlin

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