Thursday, December 1, 2011

China's manufacturing activity falls to a 32-month low


China's manufacturing activity fell to a 32-month low in November, hurt by a slowdown in the global economy.

China's official Purchasing Managers Index (PMI) fell to 49.0 in November, the lowest level since March 2009.

The industry survey data comes amid concerns that a slowdown in the global economy may dent demand for Chinese goods and hurt its economy.

PMI is a key indicator of manufacturing activity and a reading below 50 shows contraction.

This is the first time in almost three years that the figure has fallen below the crucial 50 mark. READ MORE

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