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Friday, January 1, 2016, 17:51

China's manufacturing PMI rises to 49.7 in Dec

By Xinhua

BEIJING -- China's factory activity picked up a bit in December as emerging engines shored up growth, official data showed Friday.

China's manufacturing purchasing managers' index (PMI) came in at 49.7 in December, up from 49.6 in November, according to data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing.

A reading above 50 indicates expansion, while that below 50 represents contraction.

Although the low oil prices and tight cash flow at the end of the year have put heavy pressure on China's manufacturers, strong recovery was seen in production and market demand.

The production sub-index posted at 52.2 in December, up from 51.9 in November, showing accelerated growth in production.

The sub-index for new orders came at 50.2, back to expansion territory and up from 49.8 in November, indicating demand has improved slightly.

While traditional low-cost manufacturing ran out of steam, hi-tech manufacturing bucked the trend.

The sub-index for hi-tech manufacturing rose to 53 in December, with an average sub-index for 2015 beating the overall PMI for manufacturing by 2.9 percentage points.

The data showed China's industrial upgrades and restructuring have been continuously advancing, NBS statistician Zhao Qinghe said.

Manufacturing of computers and telecommunication equipment continued to expand, with the indices for the sectors remaining above 52.

"The figures showed signs of stabilization in China's economy," said Zhang Liqun, analyst with the China Federation of Logistics and Purchasing.

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