Thursday, 2 January 2020 09:31 WIB |
ECONOMY |PMI China
China's factory activity expanded at a slower clip in December, pulling back from a three-year high the previous month as new orders softened, a private survey showed on Thursday.
But production continued to grow at a solid pace and business confidence shot up amid thawing trade tensions with the United States, offering some support for the cooling economy. Beijing and Washington agreed last month on an initial deal that will de-escalate their prolonged trade war.
The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) for December eased to 51.5 from 51.8 the previous month missing analysts' expectations that the reading would hold steady . But it remained above the 50-mark that separates expansion from contraction for the fifth straight month.
The findings, which focus mostly on small and export-oriented businesses, were less optimistic than those in an official survey released on Tuesday, which showed activity expanded as production grew at the fastest pace in over a year and easing trade tensions revived export orders.
But one analyst said the improvement in business confidence and willingness to increase production and inventories were positive changes.
Source : Reuters