National Bureau of Statistics: Manufacturing PMI slightly rebounded in November, while non-manufacturing business activity index fell slightly.

On November 30th, Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics, interpreted the Purchasing Managers' Index (PMI) for China in November 2025. In November, the manufacturing PMI rose to 49.2%, indicating some improvement in the business activity level, while the non-manufacturing business activity index was 49.5%, a decrease of 0.6 percentage points from the previous month, indicating a slight decline in non-manufacturing business activity. The production index and the new order index were 50.0% and 49.2% respectively, an increase of 0.3 and 0.4 percentage points from the previous month, with the production index reaching the critical point and improvements seen in both production and demand sides in the manufacturing industry. In terms of industries, the production and new order indexes of industries such as food processing, non-ferrous metals smelting, and rolling processing were in the expansion range, showing active production and demand. However, industries like petroleum, coal, and other fuel processing, as well as chemical fiber and rubber/plastic products, had indexes lower than the critical point, indicating a lower level of business activity. The original Chinese text discusses the interpretation of the Purchasing Managers' Index for China in November 2025 by Huo Lihui, Chief Statistician of the Service Industry Survey Center of the National Bureau of Statistics. It provides detailed information about the manufacturing and non-manufacturing business activities, with a focus on production indexes, new order indexes, and market trends in various industries.