The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing released data on November 30th. In November, the Purchasing Managers' Index (PMI), Non Manufacturing Business Activity Index, and Comprehensive PMI Output Index were 49.4%, 50.2%, and 50.4%, respectively, a decrease of 0.1, 0.4, and 0.3 percentage points from the previous month. The level of China's economic prosperity is stable but slow, and the foundation for recovery still needs to be consolidated. In November, due to factors such as some manufacturing industries entering the traditional off-season and insufficient market demand, the manufacturing PMI was 0.1 percentage points lower than the previous month. Zhao Qinghe, senior statistician at the Service Industry Survey Center of the National Bureau of Statistics, said that over 60% of manufacturing enterprises reflect insufficient market demand, and insufficient market demand remains the primary difficulty facing the current recovery and development of the manufacturing industry. According to Wen Tao, an expert from the China Logistics Information Center, there is a differentiation in market demand among the four major industries. The accelerated contraction of market demand in the basic raw materials industry has dragged down overall market demand, but the increase in demand in the new energy market effectively supports the overall stability of demand. Specifically, the new order index and new export order index of the equipment manufacturing industry were 53.3% and 48.7%, respectively, an increase of 1.1 and 2.1 percentage points compared to the previous month; The new order index for high-tech manufacturing was 51.8%, an increase of 2.1 percentage points from the previous month, and the new export order index remained stable at around 48%. From the perspective of enterprise scale, the PMI of large enterprises is 50.5%, which has remained in the expansion range for six consecutive months. Since May this year, the production index and new order index of large enterprises have always been above the critical point, and the production and demand of large enterprises continue to be released; The PMI of small and medium-sized enterprises is 48.8% and 47.8%, respectively, indicating a weak level of prosperity. From the perspective of enterprise expectations, the expected index of production and business activities is 55.8%, an increase of 0.2 percentage points from the previous month, continuing to be in a relatively high economic range. Manufacturing enterprises remain optimistic about the market outlook. "Overall, although the growth rate of the manufacturing industry slowed down slightly in November, demand remained relatively stable and production remained expanding," Wen Tao said. In November, the non manufacturing business activity index was 50.2%, a decrease of 0.4 percentage points from the previous month, still above the critical point, and the pace of non manufacturing expansion slowed down. Affected by factors such as the fading holiday effect, the business activity index of the service industry was 49.3%, a decrease of 0.8 percentage points from the previous month, indicating a slight decline in market activity in the service industry. The business activity index of the construction industry is 55%, an increase of 1.5 percentage points from the previous month, reaching a relatively high level of prosperity. The construction progress of the construction industry continues to accelerate. Wu Wei, an expert from the China Logistics Information Center, said that the business activity index of the housing construction and building decoration industries has both significantly increased compared to the previous month, reflecting the accelerated promotion of activities related to guaranteeing delivery of buildings. The business activity index and new order index of the financial industry have both significantly increased compared to the previous month. At the end of the year, the increasing demand for corporate funds and the active supply and demand in the financial industry also reflect the financial support for the real economy. In November, the expected index of non manufacturing business activity was 59.8%, an increase of 1.7 percentage points from the previous month, reaching a new high since July this year. Construction industry kimono