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China December factory activity contracts for first time in more than two years - official PMI

China December factory activity contracts for first time in more than two years - official PMI
FILE PHOTO: Employees work on a drilling machine production line at a factory in Zhangjiakou, Hebei province, China November 14, 2018. REUTERS/Stringer/File Photo -
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China Stringer Network(Reuters)
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BEIJING (Reuters) – Activity in China’s manufacturing sector contracted in December for the first time in more than two years in a fresh blow to the economy.

The official Purchasing Manager’s Index (PMI) fell to 49.4 in December, data showed on Monday. The 50-point index mark separates expansion from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the PMI to slip to 49.9 from 50.0 in November.

China’s economy has been slowing this year and analysts expect a further softening over coming months, hurt by a Sino-U.S. trade dispute and cooling global growth.

(Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)

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