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China Dec factory activity unexpectedly accelerates

by Mike Robinson

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© Reuters. FILE PHOTO – A worker welds parts for automobiles at an assembly line that makes accessories for automobiles in Huaibei province of Anhui, China, June 28, 2019. REUTERS/Stringer

BEIJING (Reuters – China’s December manufacturing activity unexpectedly accelerated despite COVID outbreaks disrupting it and as the economy loses pace in the fourth quarter. According to an unofficial survey, Friday’s release.

Data from the National Bureau of Statistics showed that December’s official manufacturing Purchasing Manager’s Index was 50.3, up from November’s 50.1.

Analysts expected the decline to be slightly below 50 points, which is the mark that separates growth and contraction.

Although the second-largest country in the world has seen an incredible recovery following last year’s pandemic, momentum is waning as the economy struggles with its slowing manufacturing sector and debt issues in property markets.

Analysts predict a slowdown in the fourth quarter’s growth.

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