The HSBC Purchasing Managers' Index Declined to 50.5 in December Last Year

The HSBC purchasing managers' index (PMI) for the Chinese manufacturing sector declined to a final reading of 50.5 in December last year, constituting the lowest level in the latest three months but still remaining above 50. In November, the final reading of the HSBC manufacturing PMI for China was at 50.8.

In December, the sub-index for new export orders dropped to a four-month low of 49.1.

Qu Hongbin, chief economist for China with the HSBC, said that, while in December decreases were witnessed in both the HSBC's PMI and new export order index for the Chinese manufacturing sector, in the coming period China will still focus on improving overseas demand and on securing the steady growth of domestic demand.