{"id":2540,"date":"2011-12-05T19:57:13","date_gmt":"2011-12-06T00:57:13","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=2540"},"modified":"2011-12-05T19:57:13","modified_gmt":"2011-12-06T00:57:13","slug":"chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/","title":{"rendered":"China&#8217;s manufacturing sector under contractionary pressure &#8211; Westpac: Phat Dragon"},"content":{"rendered":"<p>Well, the official November manufacturing PMI, a more reliable survey than the private sector alternative [once seasonally adjusted], saw finished goods inventories rise to their highest reading ever in November. Along with across the board weakness in order books&#8230;.. and a deceleration in output, import weakness, a steep decline in the new orders-to-inventories ratio and a depleting work backlog, the manufacturing sector looks to be under contractionary pressure. The moment of discontinuity has not yet arrived, but the odds of such an unwelcome appearance manifesting in the near term from this enfeebled jumping off point have certainly shortened.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, the official November manufacturing PMI, a more reliable survey than the private sector alternative [once seasonally adjusted], saw finished goods inventories rise to their highest reading ever in November. Along with across the board weakness in order books&#8230;.. and a deceleration in output, import weakness, a steep decline in the new orders-to-inventories ratio and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;China&#8217;s manufacturing sector under contractionary pressure &#8211; Westpac: Phat Dragon&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41],"tags":[1880,2206,2583,2682],"class_list":["post-2540","post","type-post","status-publish","format-standard","hentry","category-china-hk","tag-inventories","tag-manufacturing-index","tag-orders","tag-pmi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China&#039;s manufacturing sector under contractionary pressure - Westpac: Phat Dragon - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China&#039;s manufacturing sector under contractionary pressure - Westpac: Phat Dragon - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Well, the official November manufacturing PMI, a more reliable survey than the private sector alternative [once seasonally adjusted], saw finished goods inventories rise to their highest reading ever in November. Along with across the board weakness in order books&#8230;.. and a deceleration in output, import weakness, a steep decline in the new orders-to-inventories ratio and &hellip; Continue reading &quot;China&#8217;s manufacturing sector under contractionary pressure &#8211; Westpac: Phat Dragon&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-06T00:57:13+00:00\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"China&#8217;s manufacturing sector under contractionary pressure &#8211; Westpac: Phat Dragon\",\"datePublished\":\"2011-12-06T00:57:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\"},\"wordCount\":108,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"inventories\",\"manufacturing index\",\"orders\",\"PMI\"],\"articleSection\":[\"China &amp; HK\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\",\"name\":\"China's manufacturing sector under contractionary pressure - Westpac: Phat Dragon - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2011-12-06T00:57:13+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/chinas-manufacturing-sector-under-contractionary-pressure-westpac-phat-dragon\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China&#8217;s manufacturing sector under contractionary pressure &#8211; Westpac: Phat Dragon\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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The official NBS measure was unchanged at 50.1, while the Caixin PMI edged 0.2ppts lower to 49.2. Also released today, the official non-manufacturing PMI\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15373,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/01\/ism-may-2017-report\/","url_meta":{"origin":2540,"position":1},"title":"ISM May 2017 Report","author":"ColinTwiggs","date":"June 1, 2017","format":false,"excerpt":"After a setback in April, activity in the manufacturing sector is again expanding: MANUFACTURING AT A GLANCE May 2017 Index Series Index May Series Index Apr Percentage Point Change Direction Rate of Change Trend* (Months) PMI\u00ae 54.9 54.8 +0.1 Growing Faster 9 New Orders 59.5 57.5 +2.0 Growing Faster 9\u2026","rel":"","context":"In &quot;Deficit Spending &amp; Employment&quot;","block_context":{"text":"Deficit Spending &amp; Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":36074,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/08\/02\/global-manufacturing-slowdown\/","url_meta":{"origin":2540,"position":2},"title":"Global manufacturing slowdown","author":"Colin Twiggs","date":"August 2, 2022","format":false,"excerpt":"Asian manufacturing PMIs warn of a spreading global slowdown. China's official manufacturing PMI retreated to 49.0, signaling further contraction. New orders and export orders below 50 confirm the deteriorating outlook. South Korea also dipped below 50. While Taiwan fell to 44.6 in July, from an already bearish 49.8 in June,\u2026","rel":"","context":"In &quot;Base Metals&quot;","block_context":{"text":"Base Metals","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/base-metals\/"},"img":{"alt_text":"China PMI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-08-02-china-pmi.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-08-02-china-pmi.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-08-02-china-pmi.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61460,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/04\/02\/trumps-sweeping-new-tariffs-threaten-a-bear-market\/","url_meta":{"origin":2540,"position":3},"title":"Trump&#8217;s sweeping new tariffs threaten a bear market","author":"Colin Twiggs","date":"April 2, 2025","format":false,"excerpt":"Summary Markets await Donald Trump's announcement of sweeping new tariffs on global trading partners at 4 pm ET. We maintain our bearish outlook, with the S&P 500, Dow Jones Industrial Average, and Russell 2000 in a primary downtrend. Declining 10-year Treasury yields warn of a recession. Inflation swaps are also\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"US Major Trading Partners","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-01-us-trade.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-01-us-trade.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-01-us-trade.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":41553,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/04\/06\/opec-cuts-lift-gold-to-2020\/","url_meta":{"origin":2540,"position":4},"title":"OPEC+ cuts lift Gold to $2020","author":"Colin Twiggs","date":"April 6, 2023","format":false,"excerpt":"Brent Crude rallied to $85 per barrel after OPEC+ announced voluntary production cuts of 1.6 million barrels per day. It appears the cuts were in response to the recent fall to below $73 per barrel resulting from the bank contagion triggered by Silicon Valley Bank and Credit Suisse. Oil producers\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-04-05-brent.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-04-05-brent.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-04-05-brent.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63317,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/11\/30\/chinas-nbs-manufacturing-pmi-for-november\/","url_meta":{"origin":2540,"position":5},"title":"China&#8217;s NBS Manufacturing PMI for November","author":"Colin Twiggs","date":"November 30, 2025","format":false,"excerpt":"China's NBS Manufacturing PMI increased to 49.2 for the month of November, up from 49.0 in October. The index indicates that the manufacturing sector has been contracting for the past 8 months, but only values below 49.0 are considered a risk-off signal. Conclusion The NBS Manufacturing PMI for China continues\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"China: NBS Manufacturing PMI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-30-china-nbs-mnfg.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-30-china-nbs-mnfg.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-11-30-china-nbs-mnfg.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=2540"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2540\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=2540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=2540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=2540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}