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1/2/2019, 2:46 AM (Source: TeleTrader)
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China manufacturing PMI at 49.7 in December

Manufacturing activity in China decreased in December with the seasonally adjusted Purchasing Managers’ Index standing at 49.7, meaning the sector is currently contracting, according to a report by Caixin and IHS Markit published on Wednesday. Manufacturing production increased slightly while new orders fell to the lowest point since June 2016.

"The Caixin China General Manufacturing PMI dipped to 49.7 in December, the first time since May 2017 that the reading has been below 50, the mark that separates expansion from contraction," Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group stated, adding it "is looking increasingly likely that the Chinese economy may come under greater downward pressure."

Baha Breaking the News (BBN) / MD