China's Factory Activity Extends Declines in November

November 30, 2023, 09.02 AM | Source: Reuters

ILUSTRASI. FILE PHOTO: Employees work on a production line manufacturing light trucks at a JAC Motors plant in Weifang, Shandong province, China November 30, 2018. REUTERS/Stringer/File Photo ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT. GLOBAL BUSINESS WEEK AHEAD

CHINA - BEIJING. China's manufacturing activity contracted for a second straight month in November and at a quicker pace, an official factory survey showed on Thursday, suggesting more policy support measures are needed to help shore up economic growth.

The official purchasing managers' index (PMI) fell to 49.4 in November from 49.5 in October, staying below the 50-point level demarcating contraction from expansion. Analysts polled by Reuters had expected a reading of 49.7.

China's economy has struggled this year to mount a strong post-pandemic recovery, held back by a deepening crisis in the property market, local government debt risks, slow global growth and geopolitical tensions.

A flurry of policy support measures has had only modest effect, raising pressure on authorities to roll out more stimulus.

Editor: Yudho Winarto