In November this year, the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) decreased slightly to 50.4, following October's final reading of 50.9, as announced by the HSBC on November 21. Despite the decrease, the reading in November was above the 50.0 threshold for the fourth consecutive month. In particular, in November the production index indicated an increase to 51.3 from 51.1 in October, the new export order index declined to a three-month low of 49.4 in November from 50.3 in October, while enterprises' inventory replenishments slowed down in November.
"China's growth momentum slowed a little in November, as the HSBC Flash China Manufacturing PMI moderated due to weak new export orders and the slowing pace of restocking activities," said Hongbin Qu, the HSBC's chief economist for China. "The muted inflationary pressures should enable Beijing to keep policy relatively accommodative to support growth," he added.