The HSBC/Markit flash PMI for China shows the country’s manufacturing activity at a three-month low, slowing for the fifth straight month.
AFP and others report that the preliminary PMI for December stands at 50.5, down from November’s 50.8.
A result of 50.0 indicates no growth in the survey, with a result below this demonstrating contraction.
Reuters notes that December’s growth is the slowest performance in three months, and though new order growth is at a nine-month high, this was offset by reduced output.
"The December HSBC Flash China Manufacturing PMI reading slowed marginally from November's final reading," said Hongbin Qu from HSBC.
"But it still stands above the average reading for 3Q, implying that the recovering trend of the manufacturing sector starting from July still holds up. As a result, we expect China's GDP growth to stabilise at around 7.8% yoy in 4Q." Image: News Corp
Image: News Corp