Chinese industry grew further in December
Activity in the large Chinese industry grew further in December, but at a slightly slower pace than in November. This is according to figures from research agencies Markit and Caixin.
The purchasing managers’ index was 51.5 last month, compared to 51.8 a month earlier. A position of 50 or more indicates growth, below which shrinkage. Economists generally calculated at a level of 51.6. It is the fifth month in a row that the indicator shows growth.
A comparable indicator from the Chinese government previously pointed to a stabilization of industrial activity in December. That index remained unchanged at 50.2. The government figures focus more on the large Chinese state-owned companies, while Caixin and Markit focus more on smaller private companies focused on exports.