China's manufacturing PMI at 50.3 in November

China's manufacturing activity expanded for the second consecutive month in November with a series of recent stimulus measures gradually taking effect, official data showed on Saturday.

Data from the National Bureau of Statistics showed that China's official purchasing managers index for the manufacturing sector came in at 50.3 in November, up from 50.1 in October. The figure remained above the 50-mark that separates expansion from contraction and hit a seven-month high in November.

"With the introduction of a package of incremental policies and the effects of existing policies gradually emerging, the level of economic prosperity has steadily improved in China in November," said Zhao Qinghe, an NBS statistician. 

The sub-index for production was 52.4 in November versus 52 in October, while the gauge for new orders came in at 50.8 in November, up from 50 in October, with industries such as general equipment and automobile registering a rapid growth of production and demand, and witnessing the two sub-indexes standing above 54 this month.

NBS data showed manufacturers expressing optimism and confidence with the gauge for manufacturers' expectations for production and operation standing at 54.7 in November versus 54 in October. 

However, China's nonmanufacturing PMI, which includes subindexes for activity in the service and construction sectors, dropped from 50.2 in October to 50 in November. Meanwhile, official services PMI came in at 50.1 in November, flat with the figure from the month before. 

The country's official composite PMI, which encompasses both manufacturing and nonmanufacturing activities, came in at 50.8 in November, the same as the figure in October, remaining in the expansion territory.