China factory activity contracts
By its heady and often creative standards, Chinese economic data of late has offered little for economists to cheer about for Christmas and the New Year.
Now with the latest gauge of Chinese factory activity falling once again, the only thing in the stocking coming out of the Middle Kingdom this year is an official contraction for December, Bloomberg reported late Sunday night.
The official manufacturing purchasing managers’ index, released on Monday (AEDT) dropped to 49.4, striking deep into two-year lows as the ongoing trade war headlines a collection of challenges for the world’s second-largest economy. The lead-up to Christmas has been a complete mess for China’s massive economy, which grew at its slowest pace since the GFC over the last quarter, giving rise to what looks like a further deceleration in activity.
Now with the latest gauge of Chinese factory activity falling once again, the only thing in the stocking coming out of the Middle Kingdom this year is an official contraction for December, Bloomberg reported late Sunday night.
The official manufacturing purchasing managers’ index, released on Monday (AEDT) dropped to 49.4, striking deep into two-year lows as the ongoing trade war headlines a collection of challenges for the world’s second-largest economy. The lead-up to Christmas has been a complete mess for China’s massive economy, which grew at its slowest pace since the GFC over the last quarter, giving rise to what looks like a further deceleration in activity.
