On the verge of freeing China from the effects of the Corona

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Mumbai, Ta. 30 November 2020, Monday

November saw manufacturing activity in China hit a three-year high. China seems to be recovering from the effects of the coronavirus. The Purchasing Managers' Index (PMI) for China's manufacturing sector, which stood at 21.50 in October, rose to 6.10 in November, according to data from China's National Bureau of Statistics.

This is the highest PMI in the manufacturing sector since September 2016. A point above 50 is called an extension of that area. Manufacturing activity in China is returning to previous levels.

However, the resurgence of corona cases and lockdown measures in China's trading partners are likely to reduce China's export demand.

The index of export orders rose to 61.90 in November from 31.00 in October. China's PMI covers large and state-owned companies. Looking at the prices of products from trade, it seems that the industrial sector is improving.

A strong e-commerce festival in China in November boosted consumer demand, boosting the business confidence of small and medium enterprises.

China's current economic growth rate is expected to be at a two-year low of more than three decades, which is looking much better than other emerging nations. The economic growth rate of emerging countries like India is projected to remain negative in the current year.


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