China's factory activity contraction deepens in November

BY Reuters | ECONOMIC | 11/29/22 08:37 PM EST

BEIJING, Nov 30 (Reuters) - China's factory activity contracted at a faster pace in November, an official survey showed on Wednesday, weighed down by softening global demand and COVID-19 restrictions, underscoring the added pressure faced by the world's second-largest economy.

The official manufacturing purchasing managers' index (PMI) stood at 48.0 against a 49.2 reading in October, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll had expected the PMI to come in at 49.0.

The 50-point mark separates contraction from growth on a monthly basis. (Reporting by Liangping Gao and Ryan Woo; Editing by Muralikumar Anantharaman)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.