Chinese business activity growth slows in December
By Michele Maatouk
Date: Thursday 31 Dec 2020
(Sharecast News) - Chinese business activity growth eased a little in December, according to official figures released on Thursday.
Data from the National Bureau of Statistics showed the official non-manufacturing purchasing managers' index fell to 55.7 from 56.4 in November. A reading above 50.0 indicates expansion, while a reading below signals contractions.
Meanwhile, China's official manufacturing PMI declined to 51.9 in December from 52.1 in November.
The composite PMI - which measures activity in both manufacturing and services - fell to 55.1 from 55.7 in November.
Zhao Qinghe, a senior statistician at the NBS, said: "Although the manufacturing, non-manufacturing and composite PMIs were all lower than the previous month by 0.2, 0.7 and 0.6 percentage points, they all remained at a relatively high level during the year, remaining above the 50 mark for the 10th consecutive month.
"The pace of recovery in the manufacturing sector accelerated in the fourth quarter. Although the December manufacturing PMI dropped slightly, it was still only 0.2 percentage points lower than the year's high in November. The overall manufacturing sector maintained a steady recovery, with the pace at a relatively high level for the year."
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