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MNI BRIEF: China's December PMI Falls Further Amid Weak Demand

MNI (Singapore)
MNI (Beijing)

China's manufacturing Purchasing Managers' Index declined by 0.4 points to 49.0 in December, falling into the contractionary zone below the breakeven 50 mark for the third month, indicating increased economic downward pressure amid weakened demand, data from the National Bureau of Statistics showed Sunday.

The production sub-index declined by 0.5 points to 50.2, while the new orders sub-index was 48.7, decreasing by 0.7 points from November. More manufacturers, accounting for 60.76%, reported insufficient demand than the previous month. The rapid expansion of government-led investment would help reverse the contraction in demand, said Zhang Liqun, analyst with the China Federation of Logistics & Purchasing.

Non-manufacturing PMI registered 50.4, rising from last month's 50.2. The business activity index in the service sector remained unchanged from last month's 49.3 as cold weather dampened traveling-related spending, the NBS said.

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