Nothing in the way of notable reaction to.....>

CHINA: Nothing in the way of notable reaction to Chinese official PMI surveys

for the month of December, with the manufacturing reading printing at 50.2,

steady vs. Nov & marginally above exp. of 50.1.

- The non-manufacturing survey saw a downtick to 53.5 from 54.4 in Nov, and was

weaker than exp. for 54.2.

- At first glance the highlight of the breakdown was the manufacturing new

export orders moving back into expansionary territory, for the first time since

May 2018. Elsewhere, manufacturing input prices moved back into expansionary

territory, while the rate of deterioration on the manufacturing producer price

side slowed. The manufacturing employment sub-index was steady at 47.03 for a

third consecutive month.