China factory growth unexpectedly stalls in November: official PMI
Growth in China`s vast manufacturing sector stalled for the first time in over two years in November, missing expectations and adding pressure on Beijing to roll out more economic support measures amid a bitter trade war with the United States.
The official Purchasing Managers` Index (PMI) fell to 50.0 in November from 50.2 in October, data showed on Friday. The 50-point mark is considered neutral territory, indicating no growth in activity or contraction on a monthly basis.
Analysts surveyed by Reuters had forecast the reading for the month would be unchanged from October at 50.2.
China`s economic growth cooled to its weakest pace since the global financial crisis in the third quarter and analysts expect further softening in coming months before a raft of government support measures begins to stabilise activity.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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