Small growth in industrial activity in China again

Activity in China’s extensive industry grew slightly in November for the second month in a row. This growth is a boost for China, which has been struggling with a weak economy for some time. To stimulate the economy, the Chinese government has announced a series of support measures.

According to the Chinese statistics bureau, the indicator for this activity, the so-called purchasing managers index, rose to a level of 50.3, from 50.1 in October. A reading of 50 or more represents growth, below that it represents shrinkage. October marked the end of five months of contraction in industrial activity in the world’s second-largest economy.

China is dealing with, among other things, weak consumer confidence and a crisis in the real estate market. To boost growth, China has lowered interest rates, relaxed rules on home purchases and is issuing special government loans to help local governments with sky-high debts and to increase lending by state-owned banks.

By Editor