China's purchasing managers' index (PMI) for the manufacturing sector remained flat at 51.4 percent in November, according to data released on November 30.
The figure was the same as October, data from the National Bureau of Statistics (NBS) and China Federation of Logistics and Purchasing (CFLP) showed. Manufacturing PMI has stabilized after rising for four consecutive months, showing a steady upward trend in manufacturing. A PMI reading above 50 percent indicates expansion, while a reading below 50 percent indicates contraction.
Zhao Qinghe, a senior NBS statistician, attributed the strong PMI to expanding production, and confidence boosted by government measures to stabilize growth and restructure the economy, as well as large-scale enterprises' active performance.
The PMI for China's non-manufacturing sector stood at 56 percent in November, down from 56.3 percent for October, according to the NBS and CFLP.
The non-manufacturing PMI tracks service, construction, software, aviation, railway transport and real estate among other sectors.
CFLP Vice Chairman Cai Jin said construction and information services are becoming increasingly active, and the non-manufacturing sector is absorbing more labor. |