Manufacturing PMI comes in at 49.2 but survey official says business sentiment has improved.

China’s factory activity contracted for an eighth consecutive month in November, according to official data, as external headwinds and weak domestic demand continued to drag on the world’s second-largest economy. The manufacturing purchasing managers’ index (PMI) stood at 49.2 in November, up from 49 a month earlier, the National Bureau of Statistics said on Sunday. The reading was in line with a forecast of 49.2 based on economists polled by financial data provider Wind. The monthly index…

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