China’s factory activity unexpectedly contracted in November, according to a private survey released Monday, as soft domestic demand continued to cast a pall over the world’s second-largest economy. The RatingDog China General Manufacturing PMI, conducted by S&P Global, dropped to 49.9 in November, missing analysts’ expectations of 50.5 in a Reuters poll. A reading above the 50 benchmark level suggests an expansion, while one below that indicates contraction. The private survey, which has typically painted a better picture than the official polls because it focuses on export-oriented manufacturers, signaled a ... (full story)