China’s factory activity shrank slightly with purchasing managers’ index (PMI) for China’s manufacturing sector coming in at 49.0 in December, down from 49.4 last month, latest data from the National Bureau of Statistics (NBS) showed on Sunday.
The manufacturing PMI is a gauge of business sentiment among larger factory operators, with the 50-point mark being the line between expansion and contraction.
The slight decline in December can be attributed to some raw material industries that have entered their off-peak season, according to NBS senior statistician Zhao Qinghe.
The production sub-index came in at 50.2, a decrease of 0.5 point from the previous month, but still higher than the 50-point threshold, indicating that manufacturing production activities have expanded for 7 consecutive months, according to Zhao.
Meanwhile, China’s non-manufacturing sector maintains expansion in December, as the PMI for the sector reached 50.4.
The business activities in sectors such as postal, telecommunications and financial services expanded steadily in the month, with their respective sub-indexes exceeding 55, the NBS data showed.
(Cover via CFP)