PMI shows weaker growth in December
China’s manufacturing sector will likely see the slowest expansion in three months in December because of lower output growth, HSBC Holdings Plc said.
A preliminary reading of the Purchasing Managers’ Index for the manufacturing industry edged down to 50.5 in December from 50.8 in November, the lowest level since October.
The production output subindex slipped to 51.8 in December from 52.2 in November, pressuring the index.
Meanwhile, the new orders sub-index hit a nine-month high of 51.8 in December, compared with 51.7 in November, while the new export orders sub-index rose to 50.3 from 50.2 last month, suggesting stable market demand.
A reading above 50 indicates expansion, while one below that level signals contraction. (Photo 4)