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Factory activity in China rebounds following energy crunch ease

01 Dec '21
2 min read
Pic: Andreysha | Dreamstime.com
Pic: Andreysha | Dreamstime.com

China's factory activity picked up in November following the easing of power shortages and a drop in raw material prices, according to National Bureau of Statistics (NBS) data, which showed the purchasing managers' index (PMI) for the manufacturing sector was 50.1 in November, up from 49.2 in October. A reading above 50 indicates expansion, while one below reflects contraction.

The rise came after the country's measures to ensure adequate energy supply and stabilise market prices started to work, NBS senior statistician Zhao Qinghe told an official news agency.

In November, the sub-index measuring purchase prices of major raw materials dropped by 19.2 percentage points from October to 52.9. The ex-factory price index fell to 48.9, down by 12.2 percentage points from last month.

The sub-index for production expanded 3.6 percentage points to 52, while that for new orders increased 0.6 percentage points to 49.4.

The figures showed that both production and market demand in the manufacturing sector were on an upturn last month, said Zhao.

The new export order and import sub-indexes edged up to 48.5 and 48.1 respectively.

Zhao attributed the upward trend in foreign trade to factors including the global economic recovery and the nearing Christmas season in overseas markets.

Large enterprises maintained steady operation this month, with their PMI standing at 50.2, roughly the same as last month. The PMI for medium and small enterprises came in at 51.2 and 48.5, respectively. The PMI for small enterprises edged up 1 percent, signifying a reduction of pressure.

Fibre2Fashion News Desk (DS)

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