China Nov official manufacturing PMI dives deeper into contraction

FXStreet (Mumbai) - China’s official manufacturing Purchasing Managers' Index (PMI) fell further into contraction, coming in at 49.6 in Nov against 49.8 reading seen in Oct and negatively surprised markets (49.9 expectations), the National Bureau of Statistics stated.

The latest reading indicated that the activity in China's manufacturing sector shrank for a fourth straight month and contracted at the steepest rate since 2012 in November.

While the non-manufacturing PMI rose to 53.6 last month, as compared to 53.1 seen in Oct.