China’s Factory Activity Plunges Further in November as Demand Fails to Pick Up

China’s factory activity contracted for a second straight month in November, which indicated that the economy is not fully recovered from the slump and may need further support measures from the government.


According to data from the National Bureau of Statistics on Thursday, the official manufacturing purchasing managers’ index fell to 49.4 in November, dropping further from 49.5 in the previous month. The reading was also below Reuters’ estimate for 49.7.

Meanwhile, the official non-manufacturing managers’ index dropped to 50.2 in November from 50.6 in October.