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In December, China's industrial activity contracted for the first time in 19 months, as export and domestic orders weakened, PMI (Caixin / Markit) survey found Purchasing Managers Index).
This reading corresponds to the official survey published on Monday (31), which showed a growing tightening of the Chinese industrial sector, a major source of employment, and confirms the view that the economy is weakening.
Officials inspect containers in a factory in Jinzhou, Liaoning Province, China – Photo: China Daily via Reuters
The latest PMI industry index Caixin / Markit for December, released Wednesday, fell to 49.7 from 50.2 in November, recording the first contraction recorded since May 2017.
Economists polled by Reuters forecast a marginal fall of only 50.1, and slightly above the bar of 50 separating growth.
New orders, an indicator of future activity, fell for the first time in two and a half years, with companies reporting a demand here despite some price cuts. New orders for export declined for the ninth consecutive month.
Although production rose after two months of stagnation, factories cut jobs for the 62nd consecutive month.
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