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Financial News: China Private Sector Growth Softens In December

China Private Sector Growth Softens In December

01/05/2020 - 21:56:00 (RTTNews)

(RTTNews) - China's private sector growth eased in December as both manufacturing and services logged weaker growth, survey data from IHS Markit showed Monday.

The Caixin composite Purchasing Managers' Index fell to 52.6 from 53.2 in November. However, a score above 50 indicates expansion.

The Purchasing Managers' Index for the service sector dropped to 52.5 from a seven-month high of 53.5 a month ago.

Manufacturing output rose solidly at the end of the year, despite the rate of increase easing to a three-month low.

China's economy is likely to get off to a quick start in 2020, but it will still be constrained by limited demand for the rest of the year, Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group said.

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