China’s manufacturing purchasing managers’ index (PMI) was 49.2 in November—up by 0.2 pp from the previous month, official data show.
The headline seasonally-adjusted S&P Global PMI for the sector fell to 49.9 in November, down from 50.6 in October.
Business conditions in the sector declined midway through Q4 2025.
Manufacturing production growth came to a halt as new orders nearly stalled in November.