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China's manufacturing PMI drops to 47 in Dec 2022

01 Jan '23
1 min read
Pic: Shutterstock
Pic: Shutterstock
China's manufacturing purchasing managers' index (PMI) came in at 47 in December last year, down from 48 in November, according to data from the National Bureau of Statistics, which recently said the sub-index for large enterprises stood at 48.3 per cent in December, down by 0.8 percentage points from the previous month. Manufacturing demand declined as well.

A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The sub-index for production stood at 44.6 in December, down by 3.2 percentage points compared to the previous month.

The sub-index for new manufacturing orders dropped in December 2022 by 2.5 percentage points from a month earlier to 43.9, a state-controlled news agency reported.

The PMI for the country’s non-manufacturing sector stood at 41.6 in December, down from 46.7 in November.

ALCHEMPro News Desk (DS)
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