This missed expectations for a modest decline to 50.8, and was lower than 50.9 the previous month.
A reading below 50 suggests contraction.
“China’s growth momentum softened a little in November, as the HSBC Flash China Manufacturing PMI moderated due to the weak new export orders and
slowing pace of restocking activities,” said HSBC’s chief China economist, Hongbin Qu in a press release.
“That said, this is still the second-highest PMI reading in seven months.
The muted inflationary pressures should enable Beijing to keep policy relatively accommodative to support growth.”
The Australian dollar fell slightly on the news and a short time ago was trading at US93.07c.
Here’s a breakdown of the PMI report:
Business Insider Emails & Alerts
Site highlights each day to your inbox.