Posted 1/2/2024, 2:03:17 AM
China Manufacturing Activity Picks Up in December but Outlook Cautious
- China's factory activity grew at fastest pace in 7 months in December amid stronger output and new orders
- Caixin manufacturing PMI rose to 50.8 in December from 50.7 in November
- Growth driven by quicker expansions in production and new orders due to firmer demand
- Business confidence for 2024 remained subdued due to squeezed customer budgets and competition
- Employment fell for 4th straight month in December amid weaker-than-expected demand