China’s manufacturing sector continued its steady growth in December, marking the third consecutive month of expansion. According to data released by the National Bureau of Statistics (NBS) on Tuesday, the official Manufacturing Purchasing Managers’ Index (PMI) came in at 50.1.
The PMI is a key indicator of the health of the manufacturing industry. A reading above 50 indicates expansion, while below 50 signals contraction. December’s reading suggests that China’s manufacturing activities are sustaining their upward momentum.
New orders continued to rise for the fourth straight month, reaching 51, up 0.2 points from November. Export orders also showed signs of stabilization, with the new export orders index increasing for the second month in a row.
Equipment manufacturing showed strong performance as well. The PMI in this sector stood at 50.6, remaining in the expansion range for five consecutive months. Huo Lihui from the NBS attributed this growth to factors like the government’s trade-in policy and the anticipation of upcoming traditional festivals, which have boosted the consumer goods segment.
Overall, China’s manufacturing PMI averaged 50.2 in the fourth quarter, a significant increase from 49.4 in the third quarter. This suggests a more balanced relationship between supply and demand in China’s production and business activities.
Liu Yuhang, director of the China Logistics Information Center, noted that the trend of long-term improvement in China’s economy is becoming more stable.
Reference(s):
cgtn.com
