China’s manufacturing sector expanded at its fastest pace in three years in November, according to a private survey, bucking the impact of the US-China trade war and declining business confidence.
The Caixin-Markit purchasing managers’ index hit 51.8 in November, nudging up from 51.7 in the previous month, in its quickest acceleration since December 2016. The 50-point level separates expansion from contraction. A separate, official reading of manufacturing activity released on Saturday showed a return to growth for the first time in seven months
Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, noted an increase in both domestic and overseas demand.
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