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Survey: China manufacturing expands in December

Survey: China manufacturing expands in December

A survey says China's manufacturing continues to expand but lost a little momentum in the final month of the year, expanding at a slower pace than the previous two months.
The HSBC China Manufacturing Purchasing Managers Index dipped to a three-month low of 54.4 in December from November's 55.3 on a 100-point scale where numbers above 50 show activity expanding. It is based on responses from some 400 companies.
Thursday's report says December production expanded at a steep pace. It didn't slow enough to allow factories to cut down on order backlogs.
Inflation concerns also persist.
Economists see the PMI as a better measure of future economic activity than gross domestic product because it contains forward-looking information.


Updated : 2021-08-05 13:47 GMT+08:00