China's manufacturing PMI hits 6-month high in December - Breaking The News

China's manufacturing PMI hits 6-month high in December

4 January

1 min read

EPA-EFE/ALEX PLAVEVSKI

China's National Bureau of Statistics (NBS) Purchasing Manager's Index (PMI) for manufacturing returned to expansionary territory in December, increasing to 50.9, according to a report by the China Federation of Logistics and Purchasing (CFLP), released on Tuesday.

The data, compiled by the NBS, showed the headline figure rising above the neutral 50 and improving compared to last month's 49.9 to land slightly above estimates and mark an overall growth in the sector.

"Manufacturing demand and supply improved in December with easing inflationary pressure. But the job market was still under pressure and businesses were less optimistic, indicating unstable economic recovery," Senior Economist at Caixin Insight Group Dr. Wang Zhe said. "The repeated COVID19 flare-ups and sluggish overseas demand were factors of instability."

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