China’s Manufacturing Activity Continued to Grow in November Though at Slower Pace
The manufacturing sector in China continued to expand in November, albeit at a slower pace. The latest poll of Caixin showed that manufacturing PMI for China fell to 50.8 in November from 51.0 in October. Despite the decline in the index, it remains above the value of 50, which divides the expansion from the reduction. Non-manufacturing PMI, including services and the construction sector, increased by 0.5 points to 54.8.
The Caixin report noted that China's manufacturing sector remained stable for most of November, despite some signs of weakness. The agency predicts that the economy will remain stable in the fourth quarter of 2017. This year, economic growth should improve compared to 2016, but may slow in 2018.
The publication of the report had an extremely moderate impact on the markets, as the focus of investors is now on the process of adopting a tax reform in the United States.