China’s manufacturing activity continued its upward trajectory in December, marking the third consecutive month of expansion. The official Manufacturing Purchasing Managers’ Index (PMI) reached 50.1, according to data released by the National Bureau of Statistics (NBS) on Tuesday.
The PMI is a key indicator of the economic health of the manufacturing sector, with a reading above 50 signifying expansion and below 50 indicating contraction. December’s figure reinforces the positive momentum in China’s manufacturing industry.
The index for new orders climbed for the fourth month in a row, inching up by 0.2 points from the previous month to stand at 51. Export activities also showed signs of stabilization, with the new export orders index rising for the second consecutive month.
Huo Lihui from the NBS highlighted the sustained growth in the equipment manufacturing sector, which posted a PMI of 50.6 and has remained in expansion territory for five straight months. “The continuous increase in the PMI for consumer goods is driven by factors such as the government’s trade-in policies and the approach of upcoming traditional festivals,” she noted.
Averaging 50.2 in the fourth quarter, the manufacturing PMI has significantly improved from the 49.4 recorded in the third quarter, illustrating a strengthening industrial sector.
Liu Yuhang, director of the China Logistics Information Center, observed that the balance between supply and demand in production and business activities has become more harmonious. “Entering the fourth quarter, the trend of long-term improvement in the national economy has become stable,” Liu stated.
The consistent expansion in manufacturing activity reflects China’s resilient economic dynamics and offers optimistic signals for continued growth in the coming months.
Reference(s):
cgtn.com
