China's manufacturing PMI sustains strong expansion for 10 straight months
Pub Date:20-12-31 14:59
Source:CGTN
The purchasing managers' index (PMI) for China's manufacturing sector edged down to 51.9 in December from 52.1 recorded last month, the National Bureau of Statistics (NBS) said Thursday.
The index serves as a key gauge of China's manufacturing activity. A reading above 50 indicates expansion, while a reading below reflects contraction.
Although the reading is slightly dim as compared to the preceding month, it has been operating in the expansionary territory for 10 months in a row and basically matches the 52.0 median forecast of 27 economists polled by Reuters.
The country's industrial sector has staged a star-spangled recovery from COVID-19 thanks to the surprisingly strong exports and targeted, timely measures.