China’s manufacturing activity continued to improve in the last month, ie in December 2020, but its pace slowed down. The pace of improvement in manufacturing activity in December was at a three-month low. This was reported in two surveys.
After the Corona virus epidemic, China’s economic activities are back on track. However, China’s major trading partner countries are still reeling from the epidemic. In such a situation, the improvement of China’s manufacturing activities is being affected. A monthly Purchase Management Index (PMI) released on Monday by the economic affairs magazine Caixin dropped from 54.9 in November to 53 in December.
India’s manufacturing activities strengthen in December: PMI
Federation of Logistics and Purchasing also reduced PMI
Similarly, the PMI of the China Federation of Logistics and Purchasing, an official industry group, also fell from 52.1 in November to 51.9 in December. It is noteworthy that after the Corona virus epidemic, China is the only major economy which has returned to the path of economic growth. America and Europe are still in the grip of epidemic.
The sub-indices of exports and employment have increased in both surveys, but the rate has decreased in December. Caixin said the sub-index of business confidence in its survey fell to a three-month low.