The first piece of economic data for November shows manufacturing activity eased in the month. The flash HSBC purchasing manager’s index fell to 50.4 from October’s 50.9, mainly due to shrinking new export orders.
Still, it is the fifth month the figure has remained above 50 -- which marks expansion. HSBC economist Qu Hongbin said the moderated PMI was due to weakness in new export orders and slower restocking. He added the muted inflationary pressures should give the government room to keep policies accommodative. China has made it clear that it would accept slower growth while it pushes ahead with economic reforms.
Source: CCTV
