Caixin China manufacturing PMI declines to 49.7 in December

Thursday, 03 January 2019 12:13:50 (GMT+3)   |   Shanghai
       

In December last year, the China Caixin Manufacturing Purchasing Managers Index (PMI) indicated a final reading of 49.7, down 0.5 percentage points compared to the final reading for November, as announced by Beijing-based Caixin media group. 

Zhong Zhengsheng, chief economist with China Economic and Business Monitor (CEBM), part of Caixin Insight Group, pointed out that the slackening of local demand in the manufacturing industry has exerted a negative impact on prices of industrial products and production in the Chinese manufacturing industry. He also stated that China’s economic performance will likely come under downward pressure in the coming period.

Meanwhile, as announced by China's National Bureau of Statistics (NBS), the purchasing managers' index (PMI) for China’s manufacturing sector was at 49.4 percent in December, down 0.6 percentage points compared to the previous month.


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