November HSBC China manufacturing PMI remains strong inflation fears intensify

Main FINDINGS: ★ New Order volume in March since the strongest growth rate.　　There is a general bottleneck in the supply chain of ★11 month.　　★ Input prices recorded the largest increase since July 2008, the output price has also risen accordingly. China's manufacturing sector strengthened further in November, with its overall operating position growing at its strongest in 8 months. HSBC China manufacturing PMI11 month recorded 55.3, higher than October (54.8).　　The November survey also showed a significant price pressure, with both output prices and input prices accelerating, with a significant increase. China's manufacturing sector continued to rise in November, a trend that has now lasted for 4 months, after a slight contraction in output in June and July. The November growth rate was significantly higher than the long-term average.　　As for the cause of the increase in production, manufacturers generally say it is related to a further increase in the volume of new business. As of November, the new business has continued to grow for 4 consecutive months. November grew significantly, the fastest in 8 months. The survey shows that the growth of new business reflects strong demand in the market. New export orders also increased in the month, the biggest increase in 7 months.　　However, the overall growth of the new business is greater than the growth of new export orders, indicating that the overall increase in the new business stems mainly from the domestic market. New orders continued to increase, resulting in the November backlog increased, and the growth rate is more obvious, the fastest since May. At present, the backlog status has lasted for 5 months. However, the scale of employment in November only rebounded slightly on the basis of last month's contraction. The survey shows that factors contributing to job growth include expansion plans and new additions to business.　　The downsizing of the respondents said it was the joint role of employees ' retirement and resignation. In November, purchases of inputs from manufacturing continued to rise, mainly because of new business growth. Some survey samples show that manufacturers are buying more because of expected future price increases.　　This month, the biggest increase since January, but still not enough to prevent the further decline in procurement inventories, due to the shortage of raw materials, manufacturers need to use the existing inventory, and this is mainly due to the shortage of supplies suppliers, the average supplier time this month, and thus the most serious delay in the July 2008. The shortage of inputs provided more room for the increase in the cost of the suppliers, which rose sharply in November, and climbed to 4th place since the start of the survey in April 2004.　　The survey found that cotton, food, oil, steel prices were higher than in October. In order to shift the upward pressure of input costs to customers, manufacturers have also increased the price of their products, and the November fare increase is the highest survey history.　　At present, the trend of fare increase has lasted for 4 months. If you want to reprint, please contact the Daily economic News newspaper.　　Without the "Daily economic News" Newspaper authorized, is prohibited reprint or mirror, violators must investigate. Tel: 021-60900099 ext. 688 per subscribe telephone Beijing: 010-58528501 Shanghai: 021-61283003 Shenzhen: 0755-835201590%: 028-86516389028-86740011 Wuxi: 15152247316