CHINA-ECONOMY

 The China Purchasing Managers' Index (PMI) for December stated that Chinese manufacturers saw their operating conditions deteriorate for the 10th straight month with the PMI figure at 48.2. It shrank from 48.6 in November. It said December marked the seventh month in eight that production has fallen. Total new businesses weakened further, with softer demand at home and abroad. New export orders fell for the first time in three months. Manufacturers continued to shed workers and cut their purchasing activities in line with lower production requirements. Deflationary pressures persisted, as their input costs and sales prices both fell.Dr. He Fan, Chief Economist of Caixin Insight Group, said  that "the forces driving an economic recovery have encountered obstacles and the economy is facing a greater risk of weakening".


(Comment: The further a PMI number is away from the neutral 50-point level, the more the industry has contracted or expanded.)
 






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