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MNI (Singapore)

Caixin China's manufacturing PMI for December rebounded 1.0 points on month to 50.9 to hit the highest level since July 2021 and back above the breakeven 50, indicating accelerated manufacturing activities, financial publisher Caixin said on Tuesday.

The manufacturing industry in December saw robust supply and recovered demand. The production sub-index stayed above 50 for the second month with the highest reading in 2021. The new order sub-index also rose back to the expansion zone, with some surveyed enterprises reporting an increase in new customers.

Export sales were dragged down by repeated virus outbreaks, container shortages, and rising freight costs, with the new export order sub-index remaining below 50 for the fifth month. Caixin's PMI tracks small and medium-sized manufacturers, while the official PMI covering large state-owned companies and released last Friday rose by 0.2 points to 50.3 in December from November.

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