BEIJING--An official gauge of China's factory activity retreated in December after climbing to a three-year high but stood at the expansion territory, signaling robust growth momentum in the sector.
China's official manufacturing purchasing-managers index declined to 51.9 in December, from 52.1 in November, according to data released Thursday by the National Bureau of Statistics. Economists polled by The Wall Street Journal expected the index to drop to 51.9. Since March, China's official manufacturing PMI has stayed above the 50 mark, which separates activity expansion from contraction.
The subindex measuring production fell to 54.2 in December from 54.7 in November. Total new orders also dropped to 53.6 in December from November's 53.9. The subindex of new export orders stood above the 50 marks for the fourth straight month but fell to 51.3 in December from 51.5 in November.
China's nonmanufacturing PMI, which includes services and construction activity, also declined to 55.7 in December from 56.4 in November, according to data also released by the statistics bureau Thursday.
Dow Jones Newswires
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December 31, 2020 at 09:17AM
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Chinese factory activity declined in December - MarketWatch
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