Growth in production activity recorded in China | News from Germany on world events | Dw

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Manufacturing activity in China rose in November on the back of easing power shortages and declining prices for some raw materials. The purchasing managers’ index (PMI) in November rose to 50.1, breaking the psychologically important mark of 50, which actually means a transition to industrial growth. The National Bureau of Statistics (NBS) of the country reports this on Tuesday, November 30.

The updated data from the NBS was better than the forecasts of analysts Bloomberg, who said that the figure is likely to reach the level of 49.7.

“A series of recent policy measures to strengthen energy supply guarantees and stabilize market prices have paid off,” said Zhao Qinghe, senior statistician at the NBS.

Electricity supply situation has become calmer

He clarified that this month the tense situation with the supply of electricity has become calmer, which made it possible to increase production capacity, and prices for some types of raw materials “have dropped significantly.” In addition, with the recovery of the global economy and the approaching Christmas season, foreign trade also continues to strengthen, the expert said.

China’s non-manufacturing PMI declines slightly

At the same time, China’s non-manufacturing PMI fell slightly to 52.3, down from 52.4 in October, as the country continues to grapple with new COVID-19 outbreaks.

For example, the independent consultancy Capital Economics on November 29 said in its report that the omicron variant of the virus could test China’s strategy of “zero tolerance” to the coronavirus.

In September, Chinese industry recorded its first decline since February 2020. Statisticians then explained it by the lack of electricity at the enterprises. Users of social networks in the PRC told, in particular, about the disruption of mobile communications and idle traffic lights.

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