China’s Economic Slowdown Continues: Factory Activity Contracts As GDP Falls Below Expectations

China’s factory activity showed a marginal improvement in November, yet it still fell short of expectations, marking the longest stretch of contraction on record amid the country’s worsening economic conditions. The official manufacturing PMI inched up to 49.2 from 49.0 in October, remaining below the crucial 50 threshold that separates growth from contraction for an eighth consecutive month. However, it failed to meet economists’ median estimate of 49.4. Adding to the challenge, the official non-manufacturing PMI declined to 49.5 from 50.1, dropping below the expected 50.0 mark, primarily influenced by weaknesses in the real estate and residential services sectors. These…