China factory activity expands in November

China’s factory activity reports surprise growth in November

China’s factory activity reports surprise growth in November

A Reuters poll of analysts showed November PMI is expected to come at 49.5.

But they warned that the government needs to step up supportive policies to stimulate demand and shore up growth, as the manufacturing sector still faces downward pressure amid uncertainties surrounding the trade talks between Beijing and Washington.

The November's Purchasing Managers' Index (PMI) rose to 50.2, up from 49.3 last month, the National Bureau of Statistics said. All readings above 50 signal expansion.

Respondents cited a recovery in overall demand while the employment subindex also improved, said Zhengsheng Zhong, an economist at CEBM Group.

"Manufacturing investment may be lingering near a recent bottom", Zhang wrote in a release accompanying the data.

The optimistic reading comes as US-China edge towards a partial deal to a trade war.

China's November factory activity rebounded for the first time in seven months, data showed on Saturday, despite the looming threat of fresh United States tariffs within weeks if Beijing and Washington fail to sign a partial trade deal. A separate PMI focused more on smaller, export-orientated firms due Monday is forecast to show slowing expansion.

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The NBS also reported an improvement of imports and exports in November, which respectively grew 48,8 and 49,8 percent.

Chinese factory activity unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on stimulus measures growth.But accelerated Beijing's stable profits slightly, and export demand remains sluggish.

The Chinese government has been trying to spur domestic demand for well over a year, largely through higher infrastructure spending and tax cuts, but the measures have been slow to gain traction.

Beijing has front-loaded 1 trillion yuan ($142 billion) of a 2020 local government special bonds quota to this year and has urged that they be issued and used as early as possible to boost infrastructure investment.

US President Donald Trump said this week that the world's largest economies are close to reaching agreement on the first phase deal.

An additional 15% in U.S. tariffs are scheduled to take effect on about $156 billion of Chinese products on December 15.

But months of protests in Chinese-ruled Hong Kong have also exacerbated tensions.

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