The mood in China’s industry has surprisingly deteriorated further

Contrary to the expectations of experts, the mood in China’s industrial companies has deteriorated again.

The Purchasing Managers’ Index (PMI) for the manufacturing sector fell from 49.4 to 49.0 points in December, the statistics office in Beijing announced on Sunday. Economists, however, had expected an increase to 49.6 points.

Although the mood in the service sector brightened, expectations were disappointed here too. The corresponding index rose from 50.2 to 50.4 points. Experts had expected 50.5 points.

A value below 50 points signals a contraction in activity in the respective sector; above this it is assumed that it will expand. The Chinese economy is suffering from currently weak global demand, a struggling real estate market and persistently weak domestic consumption.

BEIJING (dpa-AFX)

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