PMI low­est drops to low­est since Au­gust

China Daily (Canada) - - NEWSCAPSULE -

The De­cem­ber man­u­fac­tur­ing Pur­chas­ing Man­agers’ In­dex re­treated to 51 from 51.4 in Novem­ber, the low­est level since Au­gust, in­di­cat­ing weaker eco­nomic growth mo­men­tum amid mod­er­ate ex­ter­nal de­mand and en­trepreneurs’ cau­tious ex­pec­ta­tions.

New ex­port or­ders for man­u­fac­tur­ing prod­ucts showed a con­trac­tion for the first time in five months, ac­cord­ing to a PMI sub-in­dex of 49.8 in De­cem­ber, com­pared with 50.6 in Novem­ber.

For the in­dexes, any read­ing above 50 means an im­prov­ing sit­u­a­tion from a month ear­lier, but a fig­ure be­low 50 means de­te­ri­o­ra­tion.

Zhao Qinghe, an econ­o­mist from the sta­tis­tics bureau, said the weaker mo­men­tum in­di­cated by De­cem­ber’s PMI is mainly due to sea­sonal fac­tors. (Photo 4)

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