ChIna manufacturing activity rebounds in November

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ChIna manufacturing activity rebounds in November

China's manufacturing activity rebounded in November as orders improved and power shortages were lessened, according to a survey released Tuesday.

An industry group and the national statistics agency said that the monthly purchasing managers index rose to 50.1 from October's 49.2 on a 100 point scale. The index spent less than 50 the previous two months, showing activity decreasing.

Production increased by 3.6 points to 52, showing activity was recovering from power rationing imposed in major manufacturing areas in September to meet official energy efficiency targets.

Industrial activity rebounded this month thanks to the easing of power shortages, said Sheana Yue of Capital Economics.

Yue noted that the recovery is facing uncertainty due to the spread of the coronaviruses omicron variant.

She said manufacturers also face supply shortages but that was offset by falling prices for materials.

A measure of new export orders increased by 1.9 points to 48.5 while new orders went up by 0.6 points to 49.4, according to the National Bureau of Statistics.