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China’s Dec PMI increases for fifth month, at a slower pace

by ChemOrbis Editorial Team -
  • 02/01/2017 (12:04)
According to data released by China’s National Bureau of Statistics, the country’s official manufacturing Purchasing Managers’ Index (PMI), which measures large state-owned enterprises, increased for the fifth month in a row but at a slower pace than expected. The PMI was at a slightly lower reading of 51.4 in December from 51.7 in November due to the measures taken by the government on increasing asset prices and their effects on the economy. Any figure above 50 represents an expansion while any figure below 50 shows a contraction. The PMI figure also slightly missed the analysts’ expectations which called for a reading of 51.5 in December.

The data also showed that the sub-index for factory output slowed and stood at a reading of 53.3 in December from November’s 53.9, while the sub-index for new orders remained unchanged from November’s reading of 53.2.

The country’s non-manufacturing PMI was also down to 54.5 in December from 54.7 in November, but still up the threshold of 50.
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