Jan 02, 2019 09:45 AM

Manufacturing Shrinks for First Time in 19 Months: Caixin Survey

Photo: VCG
Photo: VCG

China’s manufacturing sector contracted in December for the first time in 19 months, signaling a renewed deterioration in manufacturers’ operating conditions amid weakening market demand, a Caixin survey showed Wednesday.

The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of operating conditions in the manufacturing sector, dipped to 49.7 in December from 50.2 the previous month. The reading marks the lowest level since May 2017, when the index stood at 49.6.

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