Business News Asia
China’s National Bureau of Statistics (NBS) manufacturing data released today (Dec. 31) show that manufacturing activity declined for the third consecutive month in December and at an even faster pace.
Manufacturing activity was affected by the COVID-19 epidemic after the Chinese government abruptly lifted COVID-19 control measures.
The NBS manufacturing Purchasing Managers’ Index (PMI) was 47.0 in December, down from 48.0 in November. A PMI below 50 indicates a contraction in the manufacturing sector.