Last month, in December 2020, China’s manufacturing activity continued to improve, but slowed. The pace of improvement in manufacturing was at a three-month low in December. This was reported in two studies.
China’s economic activity is back on track after the corona virus epidemic. But China’s major trading partners are still refraining from the epidemic. Under such circumstances, the improvement in China’s manufacturing activities is being hampered. The monthly Purchasing Management Index (PMI) fell to 54 in November from 54.9 in November, according to economic magazine Kexin.
India’s manufacturing activity intensifies in December: PMI
The Federation of Logistics and Cruising has also lowered the PMI
Similarly, the PMI of the China Federation of Logistics and Purchasing, an official industry group, fell from 52.1 in November to 51.9 in December. It is noteworthy that after the coronavirus epidemic, China is the only major economy that has returned to the path of economic development. America and Europe are still plagued by epidemics.
Export and employment sub-indices rose in both surveys, but declined in December. Coxin said the sub-index of business confidence in the survey fell below three months.