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Chinese factory purchasing gauge at 3-year low
Release time:2015-12-02
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China’s manufacturing activity hit a three-year low in November, despite recent measures by the Government to spur the economy, official figures show.

The National Bureau of Statistics of China announced on Tuesday the Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 49.6 points in November, down from 49.8 points the previous month. It was also the lowest reading since August 2012.

A reading below 50 points suggests a contraction in activity while a level above that indicates an expansion.

Zhao Qinghe, a senior statistician at the Bureau, said that the weakening result in November was due to sluggish demand overseas and at home, a fall in global commodity prices and downward pressure on the economy.

Since November last year, China has cut interest rates six times as part of a series of stimulus measures for the country’s economy.

The Bureau also said on Tuesday that the PMI for the non-manufacturing sector rose to 53.6 points in November from 53.1 points a month earlier.