China factory activity contracts in November for 2nd straight month despite stimulus measures

By ZEN SOO
AP Business Writer

HONG KONG (AP) — An official survey of Chinese manufacturers shows that factory activity contracted for a second straight month in November. That indicates demand remains weak despite various stimulus measures aimed at supporting the economy. The official manufacturing purchasing managers’ index fell to 49.4 in November, down slightly from October’s 49.5, according to data released Thursday by the National Bureau of Statistics. That’s on a scale of up to 100 where 50 marks the cutoff between expansion and contraction. The index has fallen in seven of the past eight months, with an increase only in September. Despite prolonged weakness after the pandemic, the economy is expected to grow at about a 5% annual pace this year.