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MNI BRIEF: Caixin China Dec Mfg PMI Fell To 3-Month Low

MNI (Singapore)
MNI (Beijing)

China's Caixin manufacturing PMI, affected by the impact of relaxed Covid control measures, contracted for a fifth consecutive month to 49.0 in December, marking the lowest reading in three months, the financial publisher said Tuesday.

The production sub-index dipped further at the end of fourth quarter due to temporary shutdowns of factories and shrinking demand, while the new orders sub-index continued to contract. The new export orders sub-index fell to a 7-month low, while the employment sub-index fell to its weakest since March 2020, Caixin said.

Caixin's PMI mainly tracks small and medium-sized manufacturers. The official PMI, which was released on Saturday, covers mainly large state-owned companies and fell 1.0 points to 47.0 in December.

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