Guangzhou (JLC), December 1, 2025--China's manufacturing purchasing managers' index (PMI) rebounded slightly in November, signaling improved market confidence, the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) jointly reported on November 30.
The manufacturing PMI stood at 49.2% in November, edging up 0.2 percentage points from October, the NBS data showed. A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
In breakdown, both the production and demand sides saw growth. The sub-index for production and new orders settled at 50.0% and 49.2%, up 0.3 and 0.4 percentage points respectively from the previous month.
Meanwhile, the indices for employment and distributor delivery time came in at 48.4% and 50.1%, both inching up 0.1 percentage points from October, while the figure for raw material inventories remained unchanged.
Notably, high-tech manufacturing continued to expand, with its PMI recording 50.1%, maintaining above the critical point for ten consecutive months.
Non-manufacturing index retreats
The PMI for China’s non-manufacturing sector, which includes services and construction sub-indexes, dropped 0.6 percentage points to 49.5% last month.
The service sector witnessed a pullback following the high base established during October "golden week" holiday, falling 0.7 percentage points to 49.5% in November.
In the service sector, railway transport, telecommunications, broadcasting, satellite transmission, and monetary and financial services saw their PMI stay above 55%.
The indexes for the property and residential services sectors were below the 50% mark, the NBS said.
The construction sector's activity index, however, rose 0.5 percentage points month on month to 49.6%.
In November, the composite PMI output index, which combines manufacturing and non-manufacturing activity, registered 49.7%, decreasing 0.3 percentage points from October, the NBS data indicated.
