BEIJING, Dec 1 (Reuters) - Mixed factory activity data for China in November suggests more stimulus will be needed to shore up economic growth, analysts said on Friday, as two surveys came to contrasting conclusions on the sector's health.
That was the fastest expansion in three months, but stands in contrast to the official PMI which fell to 49.4 on Thursday.
"At face value, the average of the two is consistent with factory activity remaining largely unchanged last month," said Sheana Yue, China economist at Capital Economics.
The official and Caixin surveys have different samples, with the Caixin PMI focusing on export-oriented enterprises and small- and medium-sized enterprises in the country's coastal region.
Payroll cuts in the sector persisted for the third month in the Caixin survey and a ninth month in the official PMI.
Persons:
Sheana Yue, Dan Wang, Xi Jinping, Liangping Gao, Joe Cash, Jacqueline Wong, Lincoln
Organizations:
P Global, PMI, Capital Economics, HSBC, Hang Seng Bank, Thomson
Locations:
BEIJING, China, Hang Seng Bank China, Shanghai