The Purchasing Managers’ Index (PMI) for China’s manufacturing sector rose slightly to 50.3 in December 2021, up from 50.1 in the previous month, data from National Bureau of Statistics (NBS) showed. The PMI rose after the government took steps to stabilise market prices and ease the pressure of companies, according to NBS senior statistician Zhao Qinghe.

In PMI released by NBS, an index above 50 indicates expansion, while a reading below 50 reflects contraction.

In December, the sub-index measuring purchase prices of major raw materials fell 4.8 percentage points from November to 48.1. Likewise, the ex-factory price index fell to 45.5 in December, showing a drop of 3.4 percentage points from the previous month. December is the second consecutive month that both the purchase prices of major raw materials and ex-factory price index have shown a decline.

The Purchasing Managers’ Index (PMI) for China’s manufacturing sector rose slightly to 50.3 in December 2021, up from 50.1 in the previous month, data from National Bureau of Statistics (NBS) showed. The PMI rose after the government took steps to stabilise market prices and ease the pressure of companies, according to NBS senior statistician Zhao Qinghe.

However, the sub-index for production stood at 51.4, reflecting the growth momentum of the manufacturing sector.

Fibre2Fashion News Desk (RKS)