China’s Manufacturing Expands for 5th Month Running

China’s Manufacturing Expands for 5th Month Running

China’s Manufacturing Expands for 5th Month Running

Activity at China’s factories slowed in December but still marked the 5th consecutive month of expansion in the latest sign that the world’s #2 economy is stabilizing.

The monthly PMI (purchasing managers’ index) by the Chinese Federation of Logistics and Purchasing was 51.4 in December, the 2nd highest mark in Y 2016. The highest reading was November’s 51.7 — the 1 st time the index had hit that mark since July 2014.

The index is based on a 100-pt scale with the 50-pt mark separating expansion from contraction.

China’s economy has gradually cooled over the past 6 years as Beijing tries to pivot away from heavy reliance on export-based manufacturing and investment toward consumer spending.

The government has supported the manufacturing sector with stimulus measures aimed at shoring up growth, including heavier spending on public infrastructure projects.

Have a terrific New Year.

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