BEIJING--A gauge of China's factory activity climbed to a three-year peak in November, signaling the steady recovery of the world's second-largest economy from the coronavirus shock.
China's official manufacturing purchasing managers index, a key gauge of factory activity, rose to 52.1 in November from 51.4 in October, according to data released Monday by the National Bureau of Statistics. Economists polled by The Wall Street Journal had expected the index to edge up to 51.5.
China's industrial sector has led the nation's economic recovery since the second quarter, with the official manufacturing PMI above the 50 mark separating expansion from contraction since March.
The subindex measuring production increased to 54.7 from 53.9. Total new orders stood at 53.9 after remaining unchanged for two months at 52.8. The subindex of new export orders rose to 51.5 in November from 51.0, standing above the 50 mark for a third straight month.
China's nonmanufacturing PMI, which includes services and construction activity, rose to 56.4 in November from 56.2 in October, according to the statistics bureau.
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(END) Dow Jones Newswires
November 29, 2020 20:37 ET (01:37 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.