China’s Manufacturing Activity Contracts Again, Caixin PMI Shows

Activity in China’s manufacturing sector contracted for the fourth straight month, as Covid-19 outbreaks across the country and stringent measures to contain infections continued to dampen both supply and demand, a Caixin-sponsored survey showed Thursday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the country’s manufacturing sector, rose to 49.4 in November from 49.2 the previous month, remaining below 50 for four months in a row. A reading below 50 indicates a contraction in activity, while anything higher signals an expansion.