Group 1: Manufacturing Sector - The manufacturing Purchasing Managers' Index (PMI) for November is reported at 49.2%, showing a slight increase of 0.2 percentage points from the previous month, indicating a modest improvement in economic conditions [7][8] - The production index stands at 50.0%, up by 0.3 percentage points, while the new orders index is at 49.2%, increasing by 0.4 percentage points, suggesting a recovery in production and demand [8] - The new export orders index rose by 1.7 percentage points to 47.6%, driven by improved expectations from US-China trade negotiations and seasonal demand from overseas shopping [8] Group 2: Non-Manufacturing Sector - The non-manufacturing business activity index decreased to 49.5%, down by 0.6 percentage points, marking the first entry into contraction territory this year [11] - The service sector's business activity index fell to 49.5%, influenced by the end of holiday effects, while the construction sector's index improved to 49.6%, reflecting better conditions in construction activities [11] - The construction new orders index increased by 0.2 percentage points to 46.1%, indicating a gradual recovery in demand [11] Group 3: Economic Outlook - Analysts predict that the manufacturing PMI may decline to around 49.1% in December, based on historical trends, but there is potential for new growth measures to be introduced before year-end [13] - The service sector is expected to see a slight recovery in December due to upcoming holidays and the impact of consumption policies, although improvements in real estate and employment may be gradual [13] - Infrastructure investment is anticipated to rebound, providing support for the construction PMI, with increased funding from policy financial tools and local government bonds expected to enhance economic activity [13]
产需两端均有所改善 11月制造业PMI小幅回升 下阶段走势如何？
Xin Lang Cai Jing·2025-11-30 23:52