[ad_1]
Workers producing dolls in a factory in Lianyungang, in China’s Jiangsu province.
Stringer | AFP | Getty Images
China said on Monday that manufacturing activity increased for the ninth consecutive month in November as the world’s second-largest economy continued to recover from a slump caused by the coronavirus pandemic.
The official purchasing managers index in the manufacturing sector (PMI) for November is 52.1, according to the National Bureau of Statistics. That’s better than analysts’ forecast of 51.5 in a Reuters poll and October’s official reading of 51.4.
PMI readings above 50 indicate an expansion, while those below this contraction signal. PMI readings are sequential and show month-to-month expansion or contraction.
China, where cases of Covid-19 were first detected, is among the few economies that are expected to continue to grow this year – but at a slow pace. The International Monetary Fund has forecast that China’s economy will grow 1.9% in 2020, slowing from 6.1% last year.
This is the latest news. Please come back for updates.
[ad_2]
Source link