China’s November HSBC flash manufacturing purchasing managers’ Index (PMI) came in at 50, slightly lower than October’s 50.4 and reaching a six-month low, according to data released by HSBC Group.
The flash China manufacturing output index was 49.5 in November, down from 50.7 in October, and also reaching a seven-month low.
"New export order growth continued to ease and led to a below-50 reading for the output sub-index for the first time since May," says Qu Hongbin, chief economist of China and co-head of Asian economic research at HSBC.
"We still see uncertainties in the months ahead from the property market and on the export front. We think growth still faces significant downward pressures, and more monetary and fiscal easing measures should be deployed," he adds.