Manufacturing PMI weakens to lowest in three years

China's manufacturing conditions slipped to the weakest level in more than three years as sluggishness in the nation's old growth drivers added to risks facing the government's growth target.

The official purchasing managers index fell to 49.6 in November, the National Bureau of Statistics said on Tuesday - the lowest level since August 2012. That compared with a level of 49.8 for September and October. The nonmanufacturing PMI rose to 53.6 from 53.1 a month earlier. Numbers below 50 indicate a slowdown.

"The data show further divergence in manufacturing and nonmanufacturing sectors," said Zhu Qibing, a Beijing-based analyst at China Minzu Securities. "Considering further cuts in overcapacity, the divergence will continue into at least mid-2016."