Free Trial

MNI BRIEF: China Dec Manufacturing PMI Falls To Near 3-Yr Low

MNI (Singapore)
MNI (Beijing)

China's Purchasing Managers' Index (PMI) slid by one point to 47.0 in December, deeper into the contractionary zone below 50 and hitting the lowest level since February 2020, as fresh outbreaks of Covid-19 disrupted factory activities, data from the National Bureau of Statistics on Saturday showed.

Both the production and new orders sub-indices fell by 3.2 and 2.5 points from November to 44.6 and 43.9, respectively. The new export orders sub-index fell by 2.5 points to 44.2 on declining external demand.

The non-manufacturing PMI fell sharply by 5.1 points to 41.6, also hitting the lowest since February 2020. The services activities sub-index further declined by 5.7 points to 39.4, with businesses in retail sales, accommodation, catering all falling below 35.0, according to the NBS. One bright spot was the rebound in air transportation, with its sub-index rising to above 60 as the number of domestic and international passenger flights increased significantly amid relaxed Covid controls.

True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.