As authorities struggle with declining demand and worsening structural pressures, China’s factories began to grow again in December for the first time in eight months, offering a rare bright spot for the world’s second-largest economy. According to polls issued on Wednesday, factory activity increased for the last month of the year as builders hurried to complete projects and orders increased ahead of the holidays.
According to the National Bureau of Statistics, the official purchasing managers index, or PMI for manufacturing, which is a monthly survey of businesses, increased to 50.1 this month. On a scale of 50 to 100, that was just above the threshold for expansion versus contraction. For December, the results of another private sector poll were likewise 50.1.
Despite robust activity in high-tech industries and exports, the world’s second-largest economy is expected to grow slightly below the stated aim of roughly 5% this year. December’s official PMI for high-tech manufacturing was 52.5, up 2.4% from the month before. According to the study, the PMIs for the consumer goods sector and equipment manufacturing both at 50.4.
According to a separate report by RatingDog, a Chinese credit research and analysis firm with its headquarters in the southern city of Shenzhen, employment deteriorated and new export sales slightly decreased despite a rise in overall orders.
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