FX.co ★ China RatingDog Composite PMI Falls to 4-Month Low

In November 2025, the RatingDog China General Composite PMI decreased to 51.2 from 51.8 in the previous month. Although this is the lowest point since July, it still signifies private-sector growth for the sixth consecutive month. The slowdown is attributed to stagnant manufacturing output alongside a less robust increase in services activity. New business volumes rose at a more moderate rate, even as new export orders began to grow again. Simultaneously, companies continued to reduce their workforce in response to subdued capacity pressures. Regarding pricing, average input costs rose for the fifth consecutive month. However, output prices declined once more, indicating that businesses struggled to fully transfer higher costs to consumers. Additionally, business confidence diminished, reaching its lowest level in seven months.