Lackluster consumption, property investment to weigh on manufacturing Steel demand from vehicle, home appliance showed no improvement Passenger car output to rise in 2022, but growth limited China’s manufacturing purchasing managers’ index, or PMI, rebounded to 50.1 points in November, an expansion in manufacturing activity for the first time in two months but still the third lowest in 21 months, China’s National Bureau of Statistics said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now China’s PMI was seen at 49.2 points in October and at 49.6 points in September. PMI, which indicates direction of economic trends in manufacturing, is in contraction if the reading is below 50 points. As power shortages eased in November, it led to improved manufacturing production in China. However, new orders have now remained in contraction for four straight months. Similarly, new export orders contracted for the seventh […]