China factory growth eases

China factory growth eases

China factory growth eases

Commenting on the Indian Manufacturing PMI survey data, Aashna Dodhia, Economist at HIS Markit and author of the report, said, "India's goods-producing economy advanced on its recovery path, with operating conditions improving at the strongest pace since December 2012".

The factory Purchasing Managers' Index improved to 60.6 in December, in line with flash estimate, from 60.1 in November.

A reading above 50 indicates expansion, while below reflects contraction. The December figure was the highest reading since August.

The manufacturing sector employed less people as the sub-index of employment dropped 0.3 percentage points month on month to 48.5 in December.

The growth was supported by robust upturns in production and new orders, which showed the strongest increases since April and January 2011, respectively.

Analysts also expect that manufacturing growth will also be affected in the coming months by restrictions on factory production in some areas and especially in heavy industries to reduce pollution.

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"However, the level of business sentiment eased from November's 47-month high and remainedweaker than the series average", it said in a note today.

The moderate decline in headline PMI was mainly attributable to the lower inventory, while production growth remained solid despite the "unfavorable working day effect", as there were two fewer working days in December 2017 compared with a year ago, said a CICC research report.

China is expected to have grown by close to 7 percent in 2017, but the world's second largest economy is likely to slow in the new year on the back of those measures, highlighted as policy priorities at October's key Communist Party congress.

The Caixin manufacturing PMI for December compares with a decrease in the official PMI released by the National Bureau of Statistics (NBS) on Sunday. The survey's authors said a number of respondents signalled that they were receiving higher new orders from customers in North America.

Higher prices for raw materials such as steel and other metals pushed up input costs in December, and this in turn led to another push up in prices charged by manufacturers, the data showed.

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