"Chinese factory activity expanded for the first time in eight months in December, as orders picked up ahead of holidays and builders rushed to finish projects, according to surveys released Wednesday.The official purchasing managers index for manufacturing, a monthly survey of companies, rose to 50.1 this month, the National Bureau of Statistics reported. That was just above the 50 cut off for expansion versus contraction on a scale up to 100. Another, private sector, survey also was at 50.1 for December."
"In comments to a new year's gathering carried Wednesday by China's state media, President Xi Jinping, vowed to promote "high-quality development" and to carry out "more positive macroeconomic policies" while ensuring social harmony and stability.The world's second largest economy is forecast to grow at a pace just below the official target of about 5% this year, supported by strong activity in high-tech industries and exports. The official PMI for high-tech manufacturing stood at 52.5 in December, up 2.4 percentage points from the previous month."
Chinese manufacturing returned to expansion in December as the official manufacturing PMI rose to 50.1 and a private-sector gauge also reached 50.1. Orders increased ahead of year-end holidays and builders accelerated project completions, helping production ramp up. Easing pressure from an extended truce in U.S. trade tensions contributed to improved readings. High-tech manufacturing performed strongly, with its PMI at 52.5 and gains in equipment and consumer goods PMIs reaching 50.4. Export orders slipped slightly and hiring weakened, making the improvement marginal and potentially driven by promotions and new product impulses whose sustainability remains uncertain.
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