© Reuters. FILE PHOTO: Robotic arms assemble cars in the production line for Leapmotor’s electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. China Daily via REUTERS/File Photo
By Joe Cash
BEIJING (Reuters) – China’s manufacturing activity likely contracted for a second consecutive month in November, a Reuters poll showed on Wednesday, keeping alive calls for further stimulus measures as factory owners struggle for orders both at home and abroad.
While the official purchasing managers’ index (PMI) is expected to have improved to 49.7 in November from last month’s unexpected drop to 49.5, the median forecast of 31 economists in a Reuters poll has the index staying below the 50-point level demarcating contraction from expansion.
Economists appear in agreement that the economy is still largely struggling for traction despite some signs of green shoots in mixed October data, with all respondents returning readings between 49.0 and 50.2 and the vast majority predicting a small contraction of between 49.6 and 49.8.
The world’s second-largest economy has been unable to mount a strong post-COVID recovery this year as a deep crisis in the property…
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