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The nation's industrial activity index has declined the most since April.
The manufacturing PMI in China fell for the second consecutive month. The figure was 49.2 points in September. A PMI score above 50 denotes increased activity, while one below 50 denotes a slowdown. At the same time, analysts surveyed by Bloomberg expected the PMI will be 49 points that by the end of November.
The increase of COVID-19 cases and the implementation of stringent quarantine measures across the nation, including the closing of factories, are to blame for the slowdown in industrial activity. 53% of Chinese businesses reported having at least one person ill by COVID-19 in November, according to China Beige Book International.
source: bloomberg.com
The manufacturing PMI in China fell for the second consecutive month. The figure was 49.2 points in September. A PMI score above 50 denotes increased activity, while one below 50 denotes a slowdown. At the same time, analysts surveyed by Bloomberg expected the PMI will be 49 points that by the end of November.
The increase of COVID-19 cases and the implementation of stringent quarantine measures across the nation, including the closing of factories, are to blame for the slowdown in industrial activity. 53% of Chinese businesses reported having at least one person ill by COVID-19 in November, according to China Beige Book International.
source: bloomberg.com
