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China factory gauge lower, adding to economic gloom

China's factory activity slips in November, adding to pressure on Beijing amid tariff battle with Washington

Reported by: AP [ Published on: November 30, 2018 9:45 IST ]
Image Source : AP China factory gauge lower, adding to economic gloom

BEIJING (AP) — A measure of China's factory activity slipped to its lowest level in more than two years in November, adding to pressure on Beijing amid a tariff battle with U.S. President Donald Trump.

The China Federation of Logistics & Purchasing said Friday its monthly purchasing managers' index declined to 50 from October's 50.2 on a 100-point scale. Numbers above 50 indicate activity is increasing.

The industry group said that indicated Chinese economic activity is "still on a downward trend." It blamed weak domestic demand for the latest decline.

Washington and Beijing have raised tariffs on billions of dollars of each other's goods in a fight over technology policy. That has yet to have much impact on China's economy, but forecasters say exports are likely to weaken early next year.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.

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