China’s manufacturing activity accelerates in December, Caixin poll suggests
Purchasing managers index for small and medium-sized enterprises suggests strong global demand for exporting firms
Activity in Chinese factories accelerated in December, according to independent data released on Tuesday, a positive indicator for the world’s second-largest economy at the start of a new year.
The Caixin Purchasing Managers Index (PMI), which gives an indication of conditions at small manufacturers, rose to 51.5 in December, up from 50.8 in November and its highest reading since August.
The official PMI indicator of 51.6 for December was released on Sunday by China’s National Bureau of Statistics and showed a slight deceleration from November, although it largely maintained momentum.
A PMI figure above 50 represents growth while anything below that points to contraction.
Caixin’s index focuses on economic activity at small and medium-sized enterprises, and its continued strength may reflect the resilient global demand for many of these exporting firms.