China: Overall positive tone for Nov Official PMI suite - TDS

Research Team at TDS, notes that there was an overall positive tone for Nov China Official PMI suite as the official manufacturing PMI beat forecasts, 51.7 vs the mkt at 51.

Key Quotes

“Beneath the headline numbers, the sector breakdown shows the improvement seems to be broad based. Except a slight drop in suppliers’ delivery time, all other sub-indices were up vs Oct. Non-manufacturing PMI edged up further to 54.7(prior 54.0), pointing to a robust pace pf expansion. Caixin manufacturing PMI was slightly below expectations at 50.9 vs mkt 51.0, however with today’s outcome making it the fifth straight month of readings above 50, the market took this miss in its stride.”