China December PMI Flat Barely Above Expansion

China’s Purchasing Managers’ Index for the manufacturing sector remained at 50.6 percent in December, China Federation of Logistics and Purchasing (CFLP) said Tuesday.

It was the third consecutive month the PMI figure was above 50 percent, which demarcates expansion from contraction, the CFLP said in a report.

In November, the figure rose to 50.6 percent from 50.2 percent in October.

Cai Jin, CFLP vice chairman, said the continued expansion suggested a moderate economic recovery trend and a positive start for the new year’s economy.

Most of the sub-indices saw gains, with the sub-index for input prices up 3.2 percentage points to 53.3 percent from a month earlier.

However, four sub-indices, including new export order and output sub-index, witnessed slight month-on-month declines, all within one percentage point.

The PMI data is based on a survey of purchasing managers in more than 820 companies and 20 industries.

The December data has shown improvement in enterprises’ operations, as the PMI figure for large firms stayed above 50 percent for four straight months. Small and micro-enterprises rose 2 percentage points to 48.1 percent last month, according to the CFLP.

via Xinhua

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