China's factory PMI contracts in December - Breaking The News

China's factory PMI contracts in December

3 January

1 min read

EPA-EFE/ALEX PLAVEVSKI

The Caixin China General Manufacturing Purchasing Managers' Index (PMI) came in at 49.0 in December, according to the latest report released by S&P Global on Tuesday.

The manufacturing performance deteriorated further compared to November data, despite this month's number being just 0.4 points lower than the previous reading.

"Overall, the pandemic continued to take a toll on the economy in December. Supply contracted, total demand remained weak, overseas demand shrank, employment deteriorated, logistics was sluggish, manufacturers faced growing pressure on their profitability, and the quantity of purchases as well as inventories stayed low," Senior Economist at Caixin Insight Group Dr. Wang Zhe said, noting, however, that the "optimism in the sector significantly improved thanks to further optimized Covid controls."

data manufacturing pmi

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