China's National Bureau of Statistics' (NBS) Manufacturing Purchasing Managers' Index (PMI) slightly increased to 49.2 in November 2025, up from October's six-month low of 49.0, meeting market expectations. Despite this slight rise, the reading continues to indicate a decline in factory activity for the eighth consecutive month. This persistent downturn is attributed to a combination of weak overseas demand, aggressive price competition among domestic manufacturers, and exporters maintaining a conservative approach due to the unpredictable global economic environment.
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