China official December Manufacturing PMI 50.1 (expected 50.3) Services 52.2 (exp 50.2)
December Manufacturing PMI drops from November and comes in not as strong as expected at 50.1expected 50.3, prior 50.3more positively manufacturing now in expansion for three months Non-Manufacturing PMI more than makes up for it, jumping well over November and the median estimate to 52.2expected 50.2, prior 50.0Composite 52.2prior 50.8***I posted earlier the background to these December results, over the course of H2 of 2024.ICYMI:In H2 of 2024 manufacturing has improved, slowly, while services have held in expansion.Manufacturing PMI:July 2024: 49.4, indicating contraction in manufacturing activity. Production expanded slightly (50.1), but new orders fell (49.3).August 2024: Remained at 49.4, continuing contraction as challenges persisted in the sector.September 2024: Rose to 49.8, showing a slower pace of contraction. Output grew the most in five months.October 2024: Increased to 50.1, crossing into expansion territory for the first time in six months, reflecting initial impacts of fiscal stimulus.November 2024: Improved further to 50.3, showing modest expansion with strengthening domestic demand.Non-Manufacturing (Services) PMI:July 2024: 51.5, indicating expansion in services, though at a slower pace.August 2024: Declined to 51.0, still expanding but with reduced momentum.September 2024: Decreased to 50.0, marking stagnation in the sector.October 2024: Edged up slightly to 50.2, suggesting mild recovery.November 2024: Held steady at 50.0, showing stable but subdued performance. This article was written by Eamonn Sheridan at www.forexlive.com.
December Manufacturing PMI drops from November and comes in not as strong as expected at 50.1
- expected 50.3, prior 50.3
- more positively manufacturing now in expansion for three months
Non-Manufacturing PMI more than makes up for it, jumping well over November and the median estimate to 52.2
- expected 50.2, prior 50.0
Composite 52.2
- prior 50.8
***
I posted earlier the background to these December results, over the course of H2 of 2024.
ICYMI:
In H2 of 2024 manufacturing has improved, slowly, while services have held in expansion.
Manufacturing PMI:
- July 2024: 49.4, indicating contraction in manufacturing activity. Production expanded slightly (50.1), but new orders fell (49.3).
- August 2024: Remained at 49.4, continuing contraction as challenges persisted in the sector.
- September 2024: Rose to 49.8, showing a slower pace of contraction. Output grew the most in five months.
- October 2024: Increased to 50.1, crossing into expansion territory for the first time in six months, reflecting initial impacts of fiscal stimulus.
- November 2024: Improved further to 50.3, showing modest expansion with strengthening domestic demand.
Non-Manufacturing (Services) PMI:
- July 2024: 51.5, indicating expansion in services, though at a slower pace.
- August 2024: Declined to 51.0, still expanding but with reduced momentum.
- September 2024: Decreased to 50.0, marking stagnation in the sector.
- October 2024: Edged up slightly to 50.2, suggesting mild recovery.
- November 2024: Held steady at 50.0, showing stable but subdued performance.
