Chinese PMI Hits a 13 Month High

The official Chinese PMI for November hit a 13 month high as the country appears to be avoiding a hard landing.   China experienced a year straight of contraction in PMI readings that coincided with a slip in Chinese GDP to its slowest growth in 3 years.  At 50.5 this month’s reading is just barely above the expansion line, but a definite improvement off the recent lows seen earlier this year.  Markit Economics has more details on this month’s data:

Key points 

  • Output up for first time since July
  • „Solid growth of new export orders
  • „Purchasing activity continues to pick up

Commenting on the China Manufacturing PMI survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:

“The final November manufacturing PMI stood at a 13-month high of 50.5 on increasing new business and expanding production. This confirms that Chinese economy continues to recover gradually. We expect GDP growth to rebound modestly to around 8% in 4Q as the easing measures continue to filter through.”

 

-------------------------------------------------------------------------------------------------------------------

Got a comment or question about this post? Send me a message on Twitter or send me an email here and I'll get back to you shortly.
Cullen Roche

Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

More Posts - Website

Follow Me:
TwitterLinkedIn