Official PMI Spikes as Producer Prices Rise, Exports Surge

(Beijing) — China's official manufacturing indicator rose to a nearly two-and-half-year high in November, as industrial firms continued to benefit from higher producer prices and a recovery in exports.

The official Purchasing Managers' Index (PMI), published by the National Statistics Bureau, stood at 51.7 last month, up from 51.2 in October, driven mainly by large and midsize enterprises in heavy industries. The reading was the highest since July 2014, when it also stood at 51.7.