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China's factory activity shows year-end contraction

  • A private survey has indicated that China’s manufacturing activity has contracted as the year draws to a close.

    The initial reading of the HSBC/Markit manufacturing purchasing manager's index's (PMI) dropped to 49.5 in December from November's last reading of 50.

    A reading of above 50 points to expansion, while below 50 indicates contraction for the month.

    The official PMI reading for December would be released in early 2015. For November, the official PMI stood at 50.3.

     

    Tagged as: China manufacturing, factory, contraction, PMI index, Chinese factory output, business news