The manufacturing sector in China continued to expand in December, albeit at a slower pace, the attest survey from Caixin revealed on Monday with a manufacturing PMI score of 53.0.
That missed expectations for a score of 54.8 and was down from 54.9 in November - although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, output and new work expanded at slower but sill marked rates. Staffing levels stagnated despite a further uptick in backlogs of work, while input costs increased at the quickest rate in three years.
Chinese goods producers generally expect production to be higher than current levels in one year’s time amid forecasts of firmer global demand conditions and an end to the COVID-19 pandemic.
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