Story perspectives

China's Manufacturing PMI Falls Again, Signals Economic Slowdown

12/2/2025

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Summary

Story summary

China’s factory activity contracted in November; RatingDog China General Manufacturing PMI fell to 49.9, below analysts’ expectations of 50.5.
This is a slowdown from 50.6 in October, signaling halted production growth.
The official PMI also declined for the eighth consecutive month.
Domestic demand remained weak even as new export orders rose, prompting job cuts.
Fixed-asset investment fell 11.4% in October, and property investment declined 14.7% in the first ten months.

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Story summary

China’s factory activity contracted in November; RatingDog China General Manufacturing PMI fell to 49.9, below analysts’ expectations of 50.5.
This is a slowdown from 50.6 in October, signaling halted production growth.
The official PMI also declined for the eighth consecutive month.
Domestic demand remained weak even as new export orders rose, prompting job cuts.
Fixed-asset investment fell 11.4% in October, and property investment declined 14.7% in the first ten months.