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- China's manufacturing sector growth moderates in December
China's manufacturing sector growth moderates in December
RTTNews reports that survey data from the National Bureau of Statistics showed that China's manufacturing sector growth moderated at the end of the year.
The official manufacturing PMI fell to 51.9 from 52.1 in November. The score was forecast to drop marginally to 52.0. The 50-point mark separates growth from contraction on a monthly basis.
The export order sub-index in manufacturing eased to 51.3 from 51.5 in November.
The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.
Zhao Qinghe, an official at the NBS, said in a statement accompanying the data release that small businesses were pressured by higher labour, raw material and distribution costs. "Small manufacturers also suffer from the problem of hiring labour as the service sector in China is competing for workers," said Pang.
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