That's close to a 4 year high for the Caixin/Markit Manufacturing Purchasing Managers' index (PMI)
- Above 50 for six consecutive months
- Output, at 53.7, rose at the fastest pace since January 2011
Citing stronger domestic demand, but new export orders remained sluggish
Comments from Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group:
- The Chinese manufacturing economy continued to improve in December
- However, it is still to be seen if the stabilization of the economy is consolidated due to uncertainties in whether restocking and consumer price rises can be sustainable
--
- The Caixin/Markit Manufacturing PMI is a private survey
- It tends to focus more on small and mid-sized Chinese firms
- The official PMIs include more larger, state-backed firms: Manufacturing PMI (Dec.): 51.4 (expected 51.5), Services PMI 54.5 (prior 54.7)
--
The world's favourite China proxy (AUD) is on the up for the session:
Strong manufacturing PMI from Australia earlier and now confirmation of stronger China manufacturing PMIs with the second good result in 3 days
