China Caixin Manufacturing PMI for December 50.8 (expected 50.3)

The privately-surveyed manufacturing PMI from China for December, Caixin/S&P Global.

• 50.8 vs. 50.4 expected and 50.7 in November

more to come

Key findings, in summary, from the report:

• Output and new orders both increase at quicker rates
• firms maintain a cautious approach to employment
• Inflationary pressures remain soft

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Over the weekend we had the official PMIs for December, manufacturing was a disappointment:

• China Dec Manufacturing PMI 49.0 (vs. 49.5 expected) & Services 50.4 (50.5 expected)

The official PMI survey covers large and state-owned companies, while the Caixin PMI survey covers small and medium-sized enterprises. As a result, the Caixin PMI is considered to be a more reliable indicator of the performance of China's private sector. There is more on the difference between the two PMIs at that link above.