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China.- The activity of Chinese factories accelerates to highs in a decade, according to PMI

11/30/2019 Production of Audi cars in China.  AUDI ECONOMY POLICY 11/30/2019 Production of Audi cars in China. AUDI ECONOMY POLICY

MADRID, 1 (EUROPA PRESS)

Activity in China’s manufacturing sector increased significantly in November, when the Purchasing Managers Index (PMI) stood at 54.9 points, compared to 53.6 in the previous month, which is the best reading of the year. data from November 2010, according to the Caixin consultancy.

In this way, the conditions of the manufacturing sector in China have chained up seven consecutive months, consolidating the recovery of activity after the impact of the Covid-19 pandemic in the first months of the year.

Chinese factories attributed this improvement to the higher growth in new orders received, as well as the recovery of volumes lost during the first months of 2020 due to the impact of the pandemic.

Additionally, while overall sales also expanded at the fastest pace in a decade, often associated with a rebound in customer demand, underlying data suggests that the rebound continued to be led by domestic demand, as growth in new export orders was not as marked as that observed for total new orders.

“We expect the economic recovery in the post-epidemic era to continue for several months. At the same time, deciding how to phase out the easing policies implemented during the epidemic will require careful planning, as uncertainties still exist within and outside of China. “said Wang Zhe, senior economist at Caixin Insight.