China: November PMI signals weakening growth, as PBoC cuts RRR

Summary

China’s Purchasing Managers Index (PMI) for November registered a weaker-than-expected outturn of 49.0% (BBVA: 50.2%; Consensus: 49.8%), down from 50.4% in October. Significantly, the outturn (below 50) means that the index has slipped into contraction territory for the first time since February, 2009

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