The Chinese manufacturing sector is slowing down, mainly due to the decline in exports. In November, the PMI index calculated by HSBC dropped to 50,4 points, from 50,9 in October. However, the figure remains above the threshold of 50 points, which marks the boundary between expansion and contraction. The entry relating to new exports recorded the lowest level in the last three months.
"China's expansionary drive slowed somewhat in November due to weak export orders and a slowdown in restocking activity," Hongbin Qu, HSBC's chief economist for China, commented. The easing of inflationary pressure should allow Beijing to maintain a relatively accommodating policy in support of growth”.
