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The
Purchasing Managers’ Index, based on a survey of factory
managers, slipped to 50.1 in December from 50.3 the previous
month, the National Bureau of Statistics said Tuesday.
It was the third straight monthly reading above 50, a level that
indicates an expansion of manufacturing activity.
The slowdown in factory activity was due to a “decline in the
output component,” according to a note by Capital Economics'
Gabriel Ng.
“That said, the output price component fell, suggesting downward
pressure on prices remains,” he said.
Overall, new orders rose to an eight-month high, while the
exports order index rose to the highest level in four months,
likely helped by U.S. importers rushing to beat higher tariffs
that incoming U.S. President Donald Trump may impose on Chinese
goods, Ng said.
Trump has pledged to impose 10% tariffs on Chinese goods,
raising trade risks for China, the world's largest exporter of
goods. China is already grappling with a lagging economy,
weighed down by reduced consumption and a real estate crisis.
A parallel purchasing managers’ index for the non-manufacturing
sector, which covers construction and services, rose to 52.2
points up from 50 points in November.
The World Bank last week raised forecasts for China's economy
growth to 4.9% but warned that reduced confidence among
households and businesses, an aging population as well as issues
like low consumption and high debt will continue to weigh on
China's future growth.
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