BEIJING, China – Growth of Chinese manufacturing barely expanded in November and stayed at the same rate as in the previous month, indicating a continual sluggish recovery, the China Federation of Logistics and Purchasing said Sunday.
It said the group’s purchasing managers’ index remained at 51.4, the same from October.
A private survey by HSBC had expected weaker growth in Chinese manufacturing with a PMI at 50.4, down from October’s 50.9, amid signs of weaker global demands and slower inventory restocking.
Both indexes use a 100-point scale on which numbers below 50 indicate contraction.
“With November’s PMI holding steady from the previous month, it shows the economic growth is stabilizing for the future,” analyst Zhang Liqun said in the federation’s report.