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China's factory activity returns to growth in December
Stronger production and domestic demand offset weak exports, with the official PMI just above 50, indicating marginal growth after eight months of contraction, officials said.
- On Dec 31, the National Bureau of Statistics reported China's manufacturing PMI rose to 50.1 in December, crossing the 50 growth mark and ending eight months of decline.
- A private-sector survey showed stronger production and domestic demand helped offset weaker foreign orders, returning factory activity to marginal expansion on Wednesday.
- Cost pressures appeared as Chinese industrial firms' profits fell 13.1% in November while input costs rose, and new orders and export orders increased to 50.8 and 49.0, respectively.
- The data should give policymakers cause for optimism as the NBS composite PMI rose to 50.7 in December, supporting Beijing's full-year growth target of around 5%.
- Despite the PMI rise, Chinese leaders pledged to maintain a proactive fiscal stance, but the Central Economic Work Conference warned of deepening external challenges and domestic demand issues.
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23 Articles
Associated Press News+4 Reposted by 4 other sources
China factory activity picks up in December as orders rebound ahead of holidays
Surveys show that Chinese factory activity expanded for the first time in eight months in December, as orders picked up ahead of holidays and builders rushed to finish projects.
·United States
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China’s factory activity breaks 8-month contraction, but headwinds persist
China’s factory activity returned to expansionary territory in December – beating market expectations to end an eight-month contraction – but analysts said it might be premature to view the rebound as a sign of sustained stabilisation. The manufacturing purchasing managers’ index (PMI) stood at 50.1 in December, up from 49.2 the previous month, according to data released on Wednesday by the National Bureau of Statistics. The reading exceeded a p…
·Hong Kong
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Coverage Details
Total News Sources23
Leaning Left3Leaning Right6Center8Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 18%
C 47%
R 35%
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