Beijing (CNS) –The Purchase Management Index (PMI) for the Chinese manufacturing industry reached 49 percent in November, announced the China Federation of Logistics & Purchasing (CFLP) today. China will enjoy steady economic growth in the future, predicted an unnamed economist.
Compared with the 11 subentries in October, all of them dipped in November except the manufacturing inventory index and import index. The new orders index and the new export orders index even fell to under 50 percent.
Basically, the PMI for enterprises producing daily life consumption goods ended up at over 50 percent in November, while raw materials and energy enterprises were happy to stay below the 50 percent mark.
The fall of the PMI in November implied Chinese economic growth is changing from expansion to shrinkage, admitted special guest analyst Zhang Liqun, but he added that consumption will increase slightly thanks to massive domestic investment.
