© Reuters. The manufacturing sector in China continues to contract for the third month in a row!
Arabictrader.com – Data issued by the China Federation of Logistics and Purchasing, yesterday, Sunday, showed a slowdown in the growth of activity in the manufacturing and non-manufacturing sectors in China during the month of last December, as the purchasing managers’ indices for the two sectors within China recorded readings lower than expectations for the third month in a row.
According to the data received, China recorded a contraction in the index to 49.0 points, which is worse than market expectations that expected the index to grow to 49.6 points. The December reading was also worse than the previous reading for October, which recorded a contraction of 49.4 points.
As for China for the month of December, the data released showed a slowdown in the growth of the index to 50.4 points, which is slightly lower than market expectations, which indicated that it would record about 50.5 points, but it is slightly better than the previous reading of last November. Which scored 50.2 points.
It is noteworthy that when the PMI index records a reading higher than 50 points, this indicates growth in sector activity, whether manufacturing or non-manufacturing, while a reading below 50 indicates a contraction in sector activity.
2024-01-01 07:01:00
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