China December factory growth seen slowing only slightly despite smog war

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Friday, Dec 29 2017

China December factory growth seen slowing only slightly despite smog war

Growth in China's sprawling manufacturing sector likely slowed only slightly in December despite tough pollution measures that have forced some factories to curb production and a cooling housing market, a Reuters poll showed. The official manufacturing Purchasing Managers' Index (PMI) on Sunday is expected to dip marginally to 51.6 for December from an unexpectedly solid 51.8 in November, according to a median forecast of 30 economists polled by Reuters.

While the reading is seen softening, it would still suggest the 18th straight month of expansion for China's manufacturers, which are posting their strongest profits in years thanks to a building boom and resurgent export demand. The 50-mark divides expansion from contraction on a monthly basis. However, a slowdown has started to take hold in the sector in the last few months due to a wide-ranging combination of government measures, from the crackdown on smog in heavily industrialized northern provinces to continued curbs on the housing market which are weighing on property investment.

More in this category: « Chicago PMI rose to 67.6 M3 Money Supply down to 4.9% »

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