Posted 12/31/2023, 1:44:00 AM
China's Factory Activity and Consumer Prices Weaken, Highlighting Need for More Economic Stimulus
- China's manufacturing activity contracted for 3rd straight month in December, weakening more than expected
- Highlights need for fresh stimulus measures to shore up feeble economic recovery
- Consumer prices fell at fastest pace in 3 years in November, while factory-gate deflation deepened
- Weak external demand remains major drag, with new export orders contracting for 9th straight month
- Non-manufacturing PMI including services rose in December, but overall economic growth still struggling