China’s factory activity contracted for the second consecutive month in November, despite a wave of stimulus measures by authorities to support the economy.
The industrial sector’s PMI scored 49.4 points in November, falling short of expectations, down from 49.5 points in October, to remain below the 50-point limit between growth and contraction.
China’s factory activity contracted for 7 months from 8 months ago and only rose above the 50-point mark in September.
China’s economy is currently suffering from the aftermath of the pandemic, affected by the worsening crisis in the real estate market, the debt risks of local governments, slowing global growth, and geopolitical tensions.
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