China's November Manufacturing PMI Rises to Two-Year High as Market Demand Further Picks Up
Yicai Global
/SOURCE : Yicai
China's November Manufacturing PMI Rises to Two-Year High as Market Demand Further Picks Up

(Yicai Global) Dec. 1 -- China's manufacturing Purchasing Managers Index (PMI) rose to a two-year high in November as market demand further picked, per latest data from the National Bureau of Statistics.

China's manufacturing PMI came in at 51.7 percent in November, up by 0.5 percentage points from the month before, continuing to trend up to a two-year high. This signals further improvements in production and market demand, as well as companies' increased willingness to procure products, said Zhao Qinghe, senior statistician at the services sector survey center of the nation's statistics bureau. Figures show that, among PMI sub-indexes, the production index was 53.9 percent, up by 0.6 percentage points from a month ago, and the new orders index reached 53.2 percent, up by 0.4 percentage points month on month. Both indexes hit a new high this year.

Imports and exports also improved, Zhao added. The new export orders index stood at 50.3 percent, up by 1.1 percentage points from the previous month, and the import index hit 50.6 percent, up by 0.7 percentage points. Both indexes recovered to above the threshold, hitting a new high for this year.

China's non-manufacturing PMI came in at 54.7 percent in November, up by 0.7 percentage points from a month ago, and rising for the third consecutive month to the highest level since July 2014, per data from the national statistics bureau.

Follow Yicai Global on