China’s PMI November 2025

According to data from the National Bureau of Statistics, China’s composite Purchasing Managers' Index (PMI), which includes both manufacturing and non-manufacturing activities, was recorded at 49.7 in November, below the threshold between expansion and contraction.

China’s non-manufacturing PMI, which has been supporting the economic recovery so far, stood at 49.5 in Novemebr, while the manufacturing PMI came in at 49.2 points.

Several key indicators of the Chinese economy, particularly consumer spending and the real estate sector, are still in a phase of recovery, and the Chinese government has implemented a series of policies and financial measures whose effects will be seen in the coming months.