China’s composite purchasing managers index (PMI) rose from 51.2 in November to 53.0 in December, according to a survey released on Thursday (6) by IHS Markit in partnership with Caixin Media.
Numbers above 50 indicate expansion of activity.
The services PMI, released in the same survey, rose from 52.1 in November to 53.1 in December.
According to IHS and Caixin, the performance of the composite index reflects stronger data from both industry and services in the last month of 2021.
In addition, the inflation rate was the lowest in the last 15 months. Employment at the composite level, however, has stagnated, and business confidence has fallen to its lowest level since May 2020.
“The economy recovered in December with improvements in demand and supply of industry and services. But companies were less optimistic, raising questions about the stability of the economic recovery,” commented Wang Zhe, senior economist at Caixin Insight Group.
“Repeated Covid-19 surges and sluggish external demand were a challenge to stability.”
Reference: CNN Brasil
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