Non-manufacturing business activity index fell In November, the non-manufacturing business activity index was 46.7%, down 2.0 percentage points from the previous month, below the threshold for two consecutive months, and the level of non-manufacturing business sentiment fell. The composite PMI output index fell back. In November, the composite PMI output index was 47.1%, a decrease of 1.9 percentage points from the previous month. It was in the contraction range for two consecutive months, indicating that the overall production and operation activities of Chinese enterprises continued to slow down.