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China factory activity grows in November for first time since August - PMI

China factory activity grows in November for first time since August - PMI

FILE PHOTO: Employees work on assembling automated guided vehicles (AGV) at a Lonyu Robot Co factory in Tianjin, China, September 7, 2021. Picture taken September 7, 2021. REUTERS/Tingshu Wang

BEIJING : China's factory activity unexpectedly expanded in November, growing for the first time since August as supply snags and power rationing abated, taking some pressure off a sector grappling with high raw material prices.

The official manufacturing Purchasing Manager's Index (PMI) was at 50.1 in November, up from 49.2 in October, data from the National Bureau of Statistics (NBS) showed on Tuesday.

The 50-point mark separates growth from contraction. Analysts had expected it to come in at 49.6.

(Reporting by Stella Qiu and Gabriel Crossley; Editing by Sam Holmes)

Source: Reuters

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