Chinese production activity slows down in November

Chinese Purchasing Managers' Index, estimated by HSBC, in November was 49 indicating that factory output and number of new orders declined. Although the figure is below 50 which indicates contraction, it still is slightly better than October's reading of 47.7, meaning that contraction is slower than in previous month. China should put more effort on fiscal and monetary easing, said Qu Hongbin, executive at HSBC's Asian economics research.