Caixin China man­u­fac­tur­ing PMI edges down

China Daily (Canada) - - NEWS CAPSULE -

The Caixin Gen­eral China Man­u­fac­tur­ing Pur­chas­ing Man­agers’ In­dex (PMI), anindi­ca­tor of man­u­fac­tur­ing ac­tiv­ity, edged down to 48.2 in De­cem­ber from Novem­ber’s 48.6 per­cent, a pri­vate sur­vey showed.

The read­ing was the low­est since Septem­ber, ac­cord­ing to the sur­vey con­ducted by fi­nan­cial in­for­ma­tion ser­vice provider Markit and spon­sored by Caixin Me­dia Co Ltd. A read­ing above 50 in­di­cates ex­pan­sion, while a read­ing be­low 50 rep­re­sents con­trac­tion.

Op­er­at­ing con­di­tions faced by Chi­nese goods pro­duc­ers con­tin­ued to de­te­ri­o­rate in De­cem­ber. Pro­duc­tion de­clined for the sev­enth time in the past eight months, driven in part by a fur­ther fall in to­tal new work, the sur­vey showed.

Data sug­gested that client de­mand was weak both at home and abroad, with new ex­port busi­ness fall­ing for the first time in three months in De­cem­ber, the sur­vey added.

Last week, China’s Na­tional Bureau of Sta­tis­tics and the China Fed­er­a­tion of Lo­gis­tics and Pur­chas­ing re­leased the of­fi­cial man­u­fac­tur­ing PMI, which came in at 49.7 in De­cem­ber, up from 49.6 in Novem­ber.

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