China News
TRADE WARS
China manufacturing expands for second straight month
Reuters Events SMR and Advanced Reactor 2025
China manufacturing expands for second straight month
by AFP Staff Writers
Beijing (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.

Related Links
Global Trade News

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
TRADE WARS
Yen rallies on rate hike bets as equity markets swing
Hong Kong (AFP) Nov 29, 2024
The yen rallied Friday after forecast-busting inflation data out of Tokyo boosted talk of another Japanese interest rate hike next month, while equity markets were mixed as traders weigh the economic outlook during a second Trump administration. With Wall Street closed for the Thanksgiving break, there were few catalysts to drive business heading into the weekend and at the end of a rollercoaster month dominated by uncertainty in the wake of Donald Trump's election victory. Traders are tracking ... read more

TRADE WARS
China inflatable space capsule aces orbital test

Tianzhou 7 completes cargo Mission, Tianzhou 8 docks with Tiangong

Zebrafish thrive in space experiment on China's space station

China's commercial space sector expands as firms outline ambitious plans

TRADE WARS
China manufacturing expands for second straight month

German Foreign Minister and Nepal PM to visit China next week

Hong Kong's New World Development replaces CEO after two months

Crypto boss eats banana art he bought for $6.2 million

TRADE WARS
TRADE WARS
What to expect from the new EU top team's first 100 days

Pro-Kremlin Muscovites galvanised by Putin's warning

Trump, NATO Secretary General Mark Rutte discuss global security issues

Pope to skip Notre Dame opening in Paris for Corsica visit

TRADE WARS
Serbia lifts moratorium on nuclear power

Cheers, angst as US nuclear plant Three Mile Island to reopen

Argonne evaluates small modular reactors for Ukraine's economic recovery

Framatome's PROtect fuel achieves key milestone at Gosgen Nuclear Plant in Switzerland

TRADE WARS
Philippines, China clashes trigger money-making disinformation

Sweden wants Chinese ship linked to cut undersea cables moved

Australia ditches plans to fine tech giants for misinformation

Denmark in diplomatic talks over Chinese ship in cable incident

TRADE WARS
Serbia lifts moratorium on nuclear power

Cheers, angst as US nuclear plant Three Mile Island to reopen

Argonne evaluates small modular reactors for Ukraine's economic recovery

Framatome's PROtect fuel achieves key milestone at Gosgen Nuclear Plant in Switzerland

TRADE WARS
Baltic Sea wind farms impair Sweden's defence, says military

Sweden blocks 13 offshore wind farms over defence concerns

Sweden's defence concerned by planned offshore wind power

On US coast, wind power foes embrace 'Save the Whales' argument

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.