China November manufacturing PMI 50.3...Second Month of Economic Expansion on Stimulus Measures

The PMI, the manufacturing purchasing managers' index, which shows China's economic trends, has been on the rise for the second month.

China's National Bureau of Statistics said its manufacturing PMI in November this year was 50.3, up 0.2 from the previous month.

PMI statistics, which are based on surveys of corporate purchasing managers, are indicators of economic trends, with higher than 50 indicators of economic expansion and lower indicators of economic contraction.

The manufacturing PMI in November was the highest in seven months since April, above the market forecast of 50.2 given by Reuters and Bloomberg, respectively.

After five consecutive months of economic contraction since May, the expansion has expanded after returning to 50.1 in October.

The non-manufacturing PMI, which, unlike manufacturing, has been steadily expanding, hit 50.0 in November but fell 0.2 from the previous month.

Non-manufacturing PMI is an indicator of construction and service activities.

Earlier this month, China announced a plan to invest 10 trillion yuan (about 1,937 trillion won) over five years to solve the chronic local government debt problem.

Prior to this, it announced a series of measures to boost the economy, including a 0.5 percentage point cut in the reserve ratio (RRR), a supply of 1 trillion yuan (about 190 trillion won) in long-term liquidity, a cut in policy rates and real estate loan rates, and the injection of funds to stabilize the stock market.