An independent gauge of China’s manufacturing sector edged lower in November, suggesting an uptick in activity at state-run companies did not extend to smaller and privately-owned factories.
The Caixin-Markit manufacturing purchasing managers’ index dipped to 50.8 in November, down from 51 in October and coming closer to the 50-point threshold that delineates expansion from contraction. A median forecast from economists polled by Reuters had predicted a fall to 50.9.
The dip to the lowest level in five months came as some companies surveyed for the gauge noted that stricter environmental policies – intended to curb the toxic haze that descends upon much of China each winter – had restricted expansion.
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