China's factory activity expands at slower pace in December – official PMI

FILE PHOTO: A worker wearing a face mask works on a production line manufacturing bicycle steel rim at a factory, as the country is hit by the novel coronavirus outbreak, in Hangzhou, Zhejiang province, China March 2, 2020. China Daily via REUTERS

BEIJING (Reuters) – China’s factory activity expanded in December but at a slower pace than the previous month, an official index showed, extending a robust economic recovery from the coronavirus shock.

The official manufacturing Purchasing Manager’s Index (PMI) fell to 51.9 in December from 52.1 in November, data from the National Bureau of Statistics (NBS) showed on Thursday, remaining above the 50-point mark that separates growth from contraction.

Analysts had expected it to fall slightly to 52.0.

The Chinese economy is expected to expand around 2% for the full year, leading a recovery that beats other major economies. Profits at China’s industrial firms in November extended robust growth, driven by solid production and sales.

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