China Factory Activity Posts Worst Contraction in Six Months

 

• Manufacturing PMI declined to 49 due to subdued demand
• The Chinese central bank could cut rates in early January: ANZ

China’s factory activity shrank in December to the lowest level in six months, fueling expectations the government may have to act soon to add impetus to the economy.

The official manufacturing purchasing managers index declined to 49, the National Bureau of Statistics said in a statement on Sunday. That was weaker than the median forecast of 49.6 by economists in a Bloomberg survey, and matched the reading seen in June.

https://www.bloomberg.com/news/articles/2023-12-31/china-factory-activity-contracts-more-than-expected-in-december