China PMI December 2017


China: Manufacturing PMI inches down in December

December 31, 2017

The manufacturing purchasing managers’ index (PMI) fell from November’s 51.8% to 51.6% in December, according to the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) that publish the index. The result was in line with what market analysts had expected. Nevertheless, the index is resting comfortably above the 50% threshold that separates expansion from contraction in the manufacturing sector.

December’s print reflected weaker readings in all the sub-components of the manufacturing PMI. Inventories recorded the largest decline in December followed by the production and job creation categories. Input prices—a reliable leading indicator for overall inflation—increased in December, reflecting higher commodity prices. Export orders climbed to a six-month high, pointing to robust global demand.

Author: Ricard Torné, Head of Economic Research

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China PMI Chart

China PMI December 2017 0

Note: Purchasing Managers’ Index. Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% indicate a contraction.
Source: National Bureau of Statistics of China (NBS) and the China Federation of Logistics and Purchasing (CFLP).

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