The strict corona measures and the global demand slump pushed China’s industrial activity to a seven-month low in November. The official purchasing managers’ index (PMI) fell to 48.0 points in November from 49.2 points in October, the statistics office announced on Wednesday. The barometer is thus well below the 50 mark, from which picking up business is signaled. Analysts polled by Reuters had only expected the index to slip to 49.0 points in November.
Due to corona restrictions in many Chinese metropolises, things are not looking any better in the service sector either. The barometer for this area fell to 46.7 points in November from 48.7 points in October, which is also its lowest level in seven months.
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