Caixin PMI Shows China’s Manufacturing Activity Contracted in November

Activity in China’s manufacturing sector contracted in November for the first time in three months, as demand remained subdued amid Covid-19 flare-ups despite a recovery in supply, a Caixin-sponsored survey showed Wednesday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, fell to 49.9 in November from 50.6 the previous month, according to the survey report. A number above 50 signals an expansion in activity, while a reading below that indicates a contraction.