China November Manufacturing PMI 49.4 (prior 49.2)

The second of the monthly manufacturing PMIs from China, the Caixin / Markit survey.

Earlier this week we had the official PMIs from China's National Bureau of Statistics.

• China official Manufacturing PMI 48.0 (expected 49.0) & Services 46.7 (expected 48.0)
• More on China's Nov. PMI plunge into deep contraction for both manufacturing and services

Summary points made in the report commentary ... pretty dire ....

• in contractionary territory for the fourth consecutive month
• Both manufacturing supply and demand continued to shrink last month due to the spreading Covid outbreaks and subsequent containment measures
• subindices for output and total new orders remained below 50 for a third and fourth straight month respectively, with output weakening at a faster pace
• Due to Covid controls at home coupled with rising recession risks overseas, the reading for new export orders remained in contraction for the fourth consecutive month
• Employment took a dive ... The related subindex remained in contractionary territory for the eighth month running, and logged its worst performance since February 2020
• The gauges for input and output prices diverged for the second consecutive month. As prices of bulk commodities Commodities Commodities are assets that are either naturally grown or occurring in the environment. Most commonly this includes precious metals such as gold, silver, and palladium.Beyond metals, commodities can also focus on agricultural or industrial goods that are central to manufacturing or other sectors. This includes crude oil, copper, wheat, and others.Relative to other assets, commodities are an extremely complex form of investment, with many similarities and differences to existing products.Commodit Commodities are assets that are either naturally grown or occurring in the environment. Most commonly this includes precious metals such as gold, silver, and palladium.Beyond metals, commodities can also focus on agricultural or industrial goods that are central to manufacturing or other sectors. This includes crude oil, copper, wheat, and others.Relative to other assets, commodities are an extremely complex form of investment, with many similarities and differences to existing products.Commodit Read this Term like metals and crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term ticked up, input costs rose at a slightly faster pace. Given the weakness in demand, it was difficult for manufacturers to pass on their rising input costs

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Maybe there is some light at the end of the tunnel:

China Official Behind Strict Covid Lockdowns Softens Her Stance

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Hopefully the leadership listens to the people.