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Chinese manufacturing growth contracts in November

Chinese manufacturing growth slowed further in November, with the Purchasing Managers' Index falling 1.4 percentage points from October to 49.

The PMI fell below 50 for the first time since March 2009.

A reading of more than 50 indicates expansion, while a reading of less than 50 suggests contraction.

Of the 20 broad industry categories, 10 industries, including the tobacco, transportation equipment production, crude oil and coking coal refining sectors, had PMI readings of more than 50.

Companies producing consumer goods had PMI readings of more than 50, while those engaged in the production of raw materials; energy, intermediate goods, and production materials posted readings of below 50.

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