Chinas December factory activity contracted more than expected
The official purchasing managers index (PMI) fell to 49.0 in December from 49.4 the previous month, below the 50-mark separating growth from contraction and weaker than a median forecast of 49.5 in a Reuters poll.
China's manufacturing activity contracted for the third consecutive month in December, an official factory survey showed on Sunday, as factories struggled with weak demand, clouding the outlook for the country's economic recovery.
The official purchasing managers' index (PMI) fell to 49.0 in December from 49.4 the previous month, below the 50-mark separating growth from contraction and weaker than a median forecast of 49.5 in a Reuters poll.
The government has in recent months unveiled a raft of measures to shore up China's feeble post-pandemic economic recovery, which is being held back by a property slump, local government debt risks and slow global growth.
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