Factory activity in China unexpectedly returned to growth in November for the fi...
BEIJING - Factory activity in China unexpectedly returned to growth in November for the first time in seven months, as domestic demand picked up on Beijing’s accelerated stimulus measures to steady growth.
The Purchasing Managers’ Index bounced back to 50.2 in November, its highest since March, China’s National Bureau of Statistics said on Saturday, above the 50-point mark that separates growth from contraction on a monthly basis. “In the short term, we may have already passed the low point where the economy hit the bottom,” Zhang Deli, a macro analyst with Lianxun Securities, wrote in a note.
An additional 15% in U.S. tariffs are scheduled to take effect on about $156 billion of Chinese products on Dec. 15.
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