Operating conditions for manufacturing best in 5 years during December: Nikkei PMI

Chinese industry

This is for the fifth consecutive month that the index has come in above 50-point mark that separates expansion from contraction.

While there is some variation in the forecast, analysts said the country's GDP growth may register up to 6.9 percent for 2017. This was consistent with the strongest improvement in the health of the sector since December 2012. Moreover, output growth slowed to a modest pace.

The survey found production and new orders were only slightly lower than in November but at 54 and 53.4 showed steady growth.

Smith said the PMI not only posted the highest reading ever recorded since the survey began in 1996, but its current 37-month sequence of improving business conditions also beat the previous record set in the runup to the financial crisis.

"Although new order growth eased, firms continued to ramp up production and took on extra staff at a near-record pace, reflecting the success they have had in securing new work over recent months", associate director at IHS Andrew Harker said. Furthermore, the rate of growth quickened to the sharpest since October 2016.

The figures showed that China's full-year 2017 economic growth would be at about 6.9 percent and around 6.5 percent for 2018, according to the China Federation of Logistics and Purchasing, which compiles the data.




"The sector therefore is in good shape heading into 2018", he added.

"The December reading dropped a little bit, but it still reached the annual average level, indicating that expansion of the manufacturing sector remains strong", Zhao said. Concerns over relatively subdued client demand and government policy changes dampened confidence.

"The PMI has remained above 51 and even exceeded 52 in September". PMI for the high-tech sector picked up further to 53.8 in December from 53.2 in November, NBS data showed.

The Caixin PMI focuses more on light industry, while heavy industry makes up a larger share of the NBS survey.

"Weak domestic demand was reported as the key reason behind lower volumes of new business, as new export orders rose for the second month in succession". The Caixin China General Services Business Activity Index will be published on Thursday.

Related news:

Hot News

isis-killer-beheading-video-story-top Georgia rallies past OU in 2OT Rose Bowl classic
Jan 02, 2018 - 11:48
Despite being sidelined earlier this week due to an illness, it seems like one Sooner star is getting motivated for the Rose Bowl. The game was the highest-scoring Rose Bowl, one point more than USC's 52-49 victory over Penn State in the 2017 Rose Bowl.

isis-killer-beheading-video-story-top Did Wenger and Alexis get lucky with Man City injuries?
Jan 02, 2018 - 11:38
"Not just the best players [need protecting], all the best players". I haven't spoken to the FA (Football Association) about it.

isis-killer-beheading-video-story-top Zero poster released: Shah Rukh Khan looks up in the new look
Jan 02, 2018 - 11:17
While there have been many reports doing the rounds about the film's title, now the makers have finally chose to reveal the same. Zero is scheduled to be released on 21 December 2018, thus cementing itself as a blockbuster already.

isis-killer-beheading-video-story-top SA court rules parliament failed to hold Zuma to account over scandal
Jan 01, 2018 - 03:18
Earlier‚ the Constitutional Court ruled that the National Assembly had not held Zuma to account as required by the Constitution. A South African judge has ruled the country's legislature must now set out rules of impeachment for President Jacob Zuma.

isis-killer-beheading-video-story-top John Fox not likely to return to Chicago Bears after season
Jan 01, 2018 - 01:48
TE Kyle Rudolph, bothered by an ankle injury the past three weeks, wore a walking boot in the locker room after the game. Randy Moss and Cris Carter are the only ones ahead on either list.

isis-killer-beheading-video-story-top Minimum wage hike goes into effect in NY, NJ
Jan 01, 2018 - 01:27
And that is the same rate for smaller companies with annual gross receipts of $305,000 or less per year, after January 1, 2018. This is the third increase for fast-food employees in NY since a state wage board recommended the pay raises in 2015.

isis-killer-beheading-video-story-top Instagram makes its 'recommended post' feature live for all
Dec 31, 2017 - 03:48
The " Recommended for You " section will consist of three or five suggested posts, as shown in the live version. The change is already causing controversy, with some Instagram users taking to Twitter to vent their anger.

isis-killer-beheading-video-story-top Penn State jumps out to big lead, hangs on to beat Washington
Dec 31, 2017 - 02:53
Washington, meanwhile, hardly got on track as Penn State's defensive line swarmed quarterback Jake Browning early and often. Washington scored the final touchdown of the first half, but that only pulled the Huskies to within 28-14.

isis-killer-beheading-video-story-top CBFC clears Padmavati with U/A certificate and new title
Dec 31, 2017 - 02:40
He also alleged that the members of the Examining Committee that saw the film opposed the granting of certification. Padmavat is the 16th century epic in verse by Sufi poet Malik Muhammad Jayasi.

isis-killer-beheading-video-story-top Louisville vs. Mississippi State, TaxSlayer Bowl 2017 live stream
Dec 31, 2017 - 02:38
Jackson has yet to declare for the National Football League draft, but most outsiders believe the dynamic junior will turn pro. And then there was this spectacular rushing touchdown to tie the game at 14 less than five minutes into the second quarter.

isis-killer-beheading-video-story-top Black Lives Matter activist Erica Garner dies at 27
Dec 31, 2017 - 02:23
Pantaleo had been in the process of arresting Garner on the suspicion that he was selling loose cigarettes. In 2016, she campaigned on behalf of Vermont Senator Bernie Sanders, an independent, for president.

isis-killer-beheading-video-story-top Congress Legislator slaps woman constable, get slapped back
Dec 31, 2017 - 01:25
An All India Congress Committee's (AICC) secretary, Kumari is a member of Himachal Pradesh Legislative Assembly from Dalhousie. The incident took place when Asha was trying to meet Congress president Rahul Gandhi in Shimla . "I am not happy with it".

OnePlus 5T to get Android Oreo Beta next week
Dec 30, 2017 - 01:45
Since the officials have announced , we can expect this new update to arrive in a few days for the OnePlus 5T smartphone. On seconds thought, South Korea might be the one that will firstly receive the final form of Android Oreo for LG G6 .

isis-killer-beheading-video-story-top Chelsea vs. Stoke City live stream info, TV channel, time
Dec 30, 2017 - 01:41
The left-back, 23, has been sidelined for nearly a year, having suffered a serious knee injury while on loan at German club Schalke .

Egypt says 10 killed in attack outside Cairo church
Dec 30, 2017 - 01:38
At least nine people are dead after two gunmen attacked the Mari Mina Church in Egypt's capital on Friday, authorities said. Trump asserted Washington's full support for Cairo in its fight against terrorism, said presidential spokesman Bassam Rady.