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Factory activity in China recovers following mitigation of energy crisis

According to data from the National Bureau of Statistics (NBS), which showed that the Manufacturing Purchasing Managers Index (PMI) was 50.1 in November, China’s factory activities have been affected by the mitigation of electricity shortages and falling raw material prices. Recovered in November. , Increased from 49.2 in October. Readings above 50 indicate expansion and readings above 50 indicate contraction.

The rise came after the country’s measures to secure adequate energy supplies and stabilize market prices began to work, NBS senior statistician Zhao Qinghe told official news agencies.

In November, the sub-index, which measures the purchase price of key raw materials, fell 19.2 percentage points from October to 52.9. The price index in front of the factory fell 12.2 points from last month to 48.9.

According to data from the National Bureau of Statistics (NBS), which showed that the Manufacturing Purchasing Managers Index (PMI) was 50.1 in November, China’s factory activities have been affected by the mitigation of electricity shortages and falling raw material prices. Recovered in November. , Increased from 49.2 in October. Reads above 50 indicate expansion.

The production sub-index increased 3.6 percentage points to 52, and the new order sub-index increased 0.6 percentage points to 49.4.

According to Zhao, this figure shows that both manufacturing production and market demand have picked up last month.

New export orders and import sub-indexes have risen to 48.5 and 48.1, respectively.

Mr. Zhao showed an increasing trend in foreign trade due to factors such as the recovery of the world economy and the arrival of the Christmas season in overseas markets.

Large companies remained stable this month, with a PMI of 50.2. The SME PMIs were 51.2 and 48.5, respectively. SMEs’ PMI has risen by 1%, indicating less pressure.

Fiber2Fashion News Desk (DS)



Factory activity in China recovers following mitigation of energy crisis

Source link Factory activity in China recovers following mitigation of energy crisis

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