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China manufacturing PMI slips to three-year low

China manufacturing
Industry   According to the National Bureau of Statistics:

China's manufacturing sector contracted for the fourth month in a row, falling to its lowest level in more than three years, according to the National Bureau of Statistics.

The official purchasing managers' index slipped to 49.6 in November, marking its lowest level since August 2012 and falling short of expectations for a reading of 49.8.

It was a brighter picture in terms of non-manufacturing, however, with the services PMI coming in at 53.6 from 53.1 in October.

The Caixin manufacturing PMI, which focuses on small enterprises and has a smaller sample than the official numbers, was also more upbeat.

It rose to 48.6 in November from 48.3m the previous month, compared with expectations for a reading of 48.3.


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