The private survey had a reading of 48.6 for November, up from 48.3 in October. Any reading above 50 indicates growth.
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The JP Morgan Global Manufacturing PMI (Purchasing Managers Index) registered 51.2 in November 2015, a decrease of 0.1 points compared to the previous month.
The Caixin survey focuses more on small- to mid-sized private firms, which are showing more stress from the prolonged economic slowdown and high financing costs, while the official versions look more at larger, state-owned firm.
Although Australia’s manufacturing sector is now far less influential that what it once was, it is encouraging to see activity levels continuing to improve given the sector was mired in contractionary territory for much of the past two years.
Vietnam’s manufacturing PMI dipped below the 50 level to 49.4 in November as new orders and employment fell marginally. Manufacturing conditions in the country worsened last month at the highest rate of deterioration in over three years, according to Nikkei Malaysia.
The uptick was driven partly by improvements in the output category, which stabilized after six months of decline.
“The slow growth will continue in December”, he told the Global Times Tuesday.
“With soft growth momentum and deflation pressures creeping up, we expect the authorities to further ease monetary policy”, economists from Australian bank ANZ said in a note.
But even those statistics are widely doubted and many analysts believe the real rate of growth could be several percentage points lower.
Prices continued to decline, with the now entrenched deflation continuing to put pressure on profits in China’s industrial heartland. In an effort to bolster growth, the People’s Bank of China has cut benchmark interest rates and banks’ reserve requirement ratio five times this year.
Liu and Lam said there were a few bright spots in China’s economy, with profits for high-tech manufacturing and equipment manufacturing up significantly in October.
SINGAPORE’S manufacturing sector continued to fare poorly, with the Purchasing Managers’ Index (PMI) staying in contraction mode for the fifth month in November.
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“The health of the [manufacturing] sector has now worsened in each of the past nine months”, Caixin said in a joint statement with Markit, a financial information services provider that compiled the PMI survey.
