Beijing: China’s factory activity contracted for the eighth straight month in November, highlighting the ongoing challenges faced by the country’s economy despite a recent trade truce with the United States.
According to Emirates News Agency, the official manufacturing purchasing managers index (PMI) rose slightly to 49.2 in November from 49 in October, as reported by China’s National Bureau of Statistics. The PMI is measured on a scale between 0 and 100, with a reading below 50 indicating contraction. The November figure aligns with analyst expectations, showing continued contraction in the manufacturing sector.
A recent US tariff cut may offer Chinese exports a competitive edge in the US market. However, it remains unclear whether this advantage will translate into regained momentum for exports following the trade truce. The situation underscores the ongoing economic challenges faced by China amidst global trade tensions.
