China’s factory sector in December expanded at its fastest pace in six months, a private business survey showed Sunday, as the world’s second-largest economy recovers from the COVID-19 pandemic and related restrictions.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 52 in December from 49.4 in November, the highest since June, according to a statement from Caixin Media on Sunday. A reading above 50 indicates expansion, while a reading below 50 represents contraction.
Output and new orders both improved at a faster pace in December, according to the survey of 500 manufacturers. The subindex for new export orders also rose to a 13-month high, the data showed.
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