China’s manufacturing activity contracted for the second month in November, indicating weakening momentum in the world’s second-largest economy despite increased government efforts to boost growth.
The country’s official manufacturing purchasing managers’ index came in at 49.4 this month, worse than a median forecast of 49.7 in a Reuters poll and slightly below a reading of 49.5 in October. A reading below 50 marks contraction from the previous month.
The decline presents a challenge for policymakers, who are under pressure to tackle a slowdown in the country’s debt-stricken property sector and revitalise a recovery in the broader economy.
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