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Financial News: China's Manufacturing Growth Eases Slightly

China's Manufacturing Growth Eases Slightly

01/01/2020 - 21:48:00 (RTTNews)

(RTTNews) - China's manufacturing sector growth weakened slightly in December, survey results from IHS Markit showed on Thursday.

The Caixin manufacturing Purchasing Managers' Index fell moderately to 51.5 in December from 51.8 in November. Nonetheless, a score above 50 indicates expansion in the sector.

Although conditions strengthened in each of the past five months, the PMI reading was the lowest seen since September, the survey revealed.

Subdued business confidence was a major factor behind the economic slowdown this year, Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said. "As the phase one trade deal between China and the U.S. has sent out positive signals, there is room for a recovery in business confidence, which should be able to help stabilize the economy."

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