China's Purchasing Managers' Index (PMI) for the manufacturing sector remained at 50.6 percent in December, said the China Federation of Logistics and Purchasing (CFLP) on January 1. The data are based on a survey of purchasing managers in more than 820 companies and 20 industries.
It was the third consecutive month the PMI figure was above 50 percent, which demarcates expansion from contraction, said the CFLP.
Cai Jin, Vice Chairman of the CFLP, said the continued expansion suggested a moderate economic recovery trend and a positive start for the economy in the new year.
However, Zhang Liqun, an analyst with the Development Research Center of the State Council, said the economic rebound was still weak as the December PMI data stayed at the same level as November.
Judging from the decline in the sub-index of new export orders, Zhang said the country's export sector remained precarious.
December's HSBC China final manufacturing PMI rose to a 19-month high of 51.5, thanks to stronger new business in-take and expansion of production, according to figures released by HSBC on December 31, 2012.
Activities in the non-manufacturing sector also continued to improve in December.
The PMI for the non-manufacturing sector was 56.1 percent in December, up 0.5 percentage points from November, according to the CFLP. |