Space News from SpaceDaily.com
China manufacturing expands for second straight month
ADVERTISEMENT


Beijing, Nov 30 (AFP) Nov 30, 2024
China in November saw an uptick in industrial output for the second straight month, government data showed Saturday, an encouraging sign for officials as they battle stagnant activity.

Beijing has in recent weeks announced a slew of the most aggressive measures in years aimed at boosting growth in the world's second-largest economy, which has struggled to fully recover since the pandemic.

A key measure of activity in the manufacturing sector, the Purchasing Managers' Index (PMI), was 50.3 in November, according to data published by the National Bureau of Statistics (NBS).

The latest PMI reading marks the second straight month of expansion -- indicated by a figure above 50 -- after a five-month run in negative territory that ended in October.

And it came in higher than a Bloomberg forecast, which had predicted the figure to stand at 50.2.

Since late September, Beijing has unveiled a string of measures aimed at bolstering growth, including cutting interest rates, cancelling restrictions on homebuying and easing the debt burden on local governments.

But economists have warned that more direct fiscal stimulus aimed at shoring up domestic consumption is needed to restore full health in China's economy as fears of a renewed trade war with the United States mount.

Writing ahead of Saturday's data release by the NBS, Chang Shu and David Qu of Bloomberg Economics said that the expected increase in November's PMI "reflects a seasonal tendency to rise following a holiday-led lull in October, not an economy that's gearing up".

Beijing is targeting annual growth this year of around five percent -- a goal that officials have recently expressed confidence in achieving.

But many observers are more sceptical, with the IMF in October revising its forecast for China's economic growth this year to 4.8 percent.

The International Monetary Fund anticipates that figure slowing further to 4.5 percent next year.


ADVERTISEMENT





Space News from SpaceDaily.com
China retrieves Long March 10 booster from South China Sea after test flight
International crew arrives at space station
Mars relay orbiter seen as backbone for future exploration

24/7 Energy News Coverage
Extreme heat flips strength rules for pure metals
Hydrogen bond design advances solar water oxidation efficiency
Illinois team outlines emit-then-add route to photonic graph states

Military Space News, Nuclear Weapons, Missile Defense
China tests AI satellite swarm for space-based computing
NRO expands commercial multi-phenomenology surveillance awards
Iran says US 'more realistic' on nuclear issue, as Guards begin drills in Hormuz Strait

24/7 News Coverage
Amazon deforestation drives hotter drier regional climate
Ancient trilobite shells reveal durable chitin and long term carbon storage
Artificial wetlands help clean runoff and support circular agriculture



All rights reserved. Copyright Agence France-Presse. Sections of the information displayed on this page (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence, you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the content of this section without the prior written consent of Agence France-Presse.