Lingling workers at a factory in Lianyang, Jiangsu Province, China.
Stringer | AFP | Getty Images
China said Monday that manufacturing activity rose for the ninth straight month in November as the world’s second-largest economy emerged from a recession caused by the coronavirus epidemic.
The Manufacturing Facial Manufacturing Purchasing Managers’ Index (PMI) for November stood at 52.1, according to the National Bureau of Statistics. That’s better than the official1.cast forecast by analysts in the Reuters poll and the official reading of official1..4 in October.
A PMI reading above 50 indicates an expansion, while it is a contraction below the signal. PMI readings are gradual and show month-to-month expansion or contraction.
China, where Kovid-19 cases were first found, is involved in a small economy that is expected to continue to grow low this year – but at a much slower pace. The International Monetary Fund predicts that the Chinese economy will grow 1.9% in 2020, slower than last year’s 6.1%.
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