Manufacturing PMI in China Reached 10 Years High

Manufacturing PMI in China Reached 10 Years High Manufacturing PMI in China reached 10 years high. In China, the Caixin manufacturing purchasing managers index (PMI) rose to 54.9 in November, above expectations. Manufacturing PMI data for November was recorded as the highest level in 10 years. After the official manufacturing PMI data was announced in China, Caixin manufacturing PMI data also pointed out that the economic recovery in the country continues. Caixin manufacturing PMI was recorded as 54.9 in November. Economists surveyed by Bloomberg expected the data to be 53.5. The 54.9 level in November was recorded as the highest level in the last 10 years. In October China's Caixin manufacturing PMI was recorded at 53.6. In February, the index dropped to 40.3 due to the coronavirus epidemic. Commenting on the data, Bloomberg Asia Chief Economist Chang Su underlined that the country especially supports the recovery of foreign demand. While the index shows over growth 50, below this level is considered as a decrease.