China’s Official PMI Edges Up To 49.7 In December

China’s official manufacturing purchasing managers index (PMI), edged up to 49.7 in December, less than market expectation.

Despite the uptick in December, the PMI has remained below the benchmark level of 50 for the fifth consecutive month, suggesting that manufacturing sector continued to contract.

As the PMI has remained below 50 in the fourth quarter in 2015, GDP growth is unlikely to have improved from the third quarter, says a research report by ANZ.

"Weak manufacturing will likely have weighed on growth. However, as observed in the second and third quarter, the strong performance of the services industry, especially in the financial sector, may have offset some of the weakness from manufacturing," says the bank.

 
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