China's manufacturing and services sectors at 7-month lows

Manufacturing and service sector activity in China fell to their lowest levels in 7 months in November due to the impact of COVID-19 restrictions and slowing global demand. The Manufacturing Purchasing Managers' Index (manufacturing PMI) prepared by the National Bureau of Statistics fell to 48.0 points in November from 49.2 points in October. The Non-Manufacturing Purchasing Managers' Index (services PMI) also fell to 46.7 points in November from 48.7 points in October. Manufacturing PMI data prepared by the National Bureau of Statistics is generally prepared with a focus on large and state-controlled companies. The Caixin Manufacturing PMI, which focuses on small and medium-sized companies in the private sector, will be released on Thursday.