Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

China's factory growth likely edged up in November

11/27/2020 | 11:20am EST
Worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory in Hangzhou, Zhejiang

BEIJING (Reuters) - China's factory activity likely expanded at a slightly faster pace in November, a Reuters poll showed on Friday, as the world's second-largest economy steadily recovers from the coronavirus crisis.

The official manufacturing Purchasing Manager's Index (PMI) is expected to rise slightly to 51.5 in November from October's 51.4, according to the median forecast of 22 economists polled by Reuters. A reading above 50 indicates an expansion in activity on a monthly basis.

China's vast industrial sector is steadily returning to the levels seen before the pandemic paralysed huge swathes of the economy early this year. Premier Li Keqiang said on Tuesday he expects economic activity to return to a reasonable range next year.

Profits at industrial firms grew in October for a sixth consecutive month and at their quickest pace since early 2017, data showed on Friday.

"Overall, we believe China's economic recovery remains largely on track and maintain our real GDP growth forecast of 5.7% y-o-y for Q4, up from 4.9% in Q3. We firmly believe Beijing will maintain its policy stance," analysts at Nomura said in a note on Friday.

The Chinese economy is expected to expand around 2% for the full year - the weakest in over three decades but still much stronger than other major economies which are still battling to contain virus infections.

The official PMI, which largely focuses on big and state-owned firms, and its sister survey on the services sector, will both be released on Nov. 30.

The private Caixin manufacturing PMI will be published on Dec. 1. Analysts expect that headline reading will dip to 53.5 from a near decade high of 53.6 in October.

The Caixin services PMI survey will be out on Dec. 3.

(Reporting by Gabriel Crossley; Editing by Kim Coghill)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
NOMURA CO., LTD. 0.00% 800 End-of-day quote.-6.10%
NOMURA HOLDINGS, INC. -1.80% 579.8 End-of-day quote.6.39%
Latest news "Economy & Forex"
12:42aLogitech lifts annual forecasts for third time as quarterly profit soars
RE
12:17aEast-bound naphtha to rise to about 2 mln T each in Jan, Feb
RE
01/18Australia, New Zealand dollars buoyed by risk-on mood
RE
01/18HK govt extends work from home for civil servants until Jan 27
RE
01/18Hong Kong stocks hit 20-month high on mainland China demand
RE
01/18China to support economic recovery, avoid 'policy cliff' - state planner official
RE
01/18China to support economic recovery, avoid 'policy cliff' - state planner official
RE
01/18BOJ's policy review may make ETF buying more flexible - Reuters poll
RE
01/18Kazakhstan to vaccinate 6 mln people this year against coronavirus
RE
01/18RESERVE BANK OF INDIA : Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) – United Co-operative Bank Limited, Bagnan Station Road (North), P.O. – Bagnan, Dist- Howrah, Pin – 711 303, West Bengal – Extension of Period
PU
Latest news "Economy & Forex"