China’s Manufacturing PMI Fell To 47.0 In December

On December 31st,according to data jointly released by the National Bureau of Statistics of China and the China Federation of Logistics & Purchasing (CFLPF), the manufacturing Purchasing Managers’ Index (PMI) fell to 47.0 in December, down 1percentage point from the previous month, and below the critical point for the third consecutive month.

Communist China’s National Bureau of Statistics said that production and demand have declined. The CCP virus has had a major impact on enterprise production and demand, personnel arrival rates, and delivery difficulties. The December production index came in at 44.6, down from 47.8 in the previous month. The new orders index at 43.9, down from 46.4 in November, meaning that manufacturing production activities continued to slow down. Due to the impact of the pandemic, the attendance rate of manufacturing employees was insufficient, and the employment index dropped to 44.8, which was 2.6 percentage points lower than the previous month.

Amid rising interest rates, inflation, and the Russia-Ukraine war, external demand weakened as the global recession intensified, leading to a slowdown in China’s exports; a situation that could hit its manufacturing sector and led to a hindered economic recovery. With the current surge of CCP virus infections in China, it will further affect its economic activities.