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China manufacturing PMI edges up in December

China manufacturing PMI edges up in December
Issue Time:2016-01-04

China's factory activity picked up a bit in December as emerging engines shored upgrowthofficial data showed Friday.

China's manufacturing purchasing managersindex (PMIcame in at 49.7 in Decemberup from49.6 in Novemberaccording to data released by the National Bureau of Statistics (NBSand theChina Federation of Logistics and Purchasing.

A reading above 50 indicates expansionwhile that below 50 represents contraction.

Although the low oil prices and tight cash flow at the end of the year have put heavy pressure onChina's manufacturersstrong recovery was seen in production and market demand.

The production sub-index posted at 52.2 in Decemberup from 51.9 in Novembershowingaccelerated growth in production.

The sub-index for new orders came at 50.2, back to expansion territory and up from 49.8 inNovemberindicating demand has improved slightly.

While traditional low-cost manufacturing ran out of steamhi-tech manufacturing bucked thetrend.

The sub-index for hi-tech manufacturing rose to 53 in Decemberwith an average sub-index for2015 beating the overall PMI for manufacturing by 2.9 percentage points.

The data showed China's industrial upgrades and restructuring have been continuouslyadvancingNBS statistician Zhao Qinghe said.

Manufacturing of computers and telecommunication equipment continued to expandwith theindices for the sectors remaining above 52.

"The figures showed signs of stabilization in China's economy," said Zhang Liqunanalyst withthe China Federation of Logistics and Purchasing.

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