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China's Manufacturing PMI at a one-year low

Thursday, Jan 01 2015
China's official Purchasing Managers' Index (PMI) slipped to 50.1 in December from November's 50.3, in line with market forecasts, according to the official government's data, its lowest level of the year and clinging just above the 50-point level that separates growth from contraction on a monthly basis.
 
"This indicates that industrial growth is still in a downward trend, but the pace (of declines) is slowing," Zhang Liqun, an economist at the Development Research Centre, said in a statement accompanying the report. "The current economic situation is in the process of returning to stability from slowing down," Zhang said.
 
Separate report on Non-Manufacturing PMI showed that index rebounded to 54.1 in December from 53.9 in November. It is a New Year Day and there is no volatility at the markets. Aussie is being traded around 0.8170 area. Rest of the day will be steadier as well with no data releases.
Last modified on Thursday, 01 January 2015
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