A study of factory supervisors in China reveals production contracted in December in the mostcurrent indication the world’s second-largest economy stays slow
ByELAINE KURTENBACH AP company author
January 1, 2024, 12: 01 AM
FILE – Workers setup decors ahead of the Christmas celebration at a shoppingmall in Beijing on Dec. 14,2023 A study of factory supervisors in China reveals production contracted in December in the mostcurrent indication the world’s No. 2 economy is still slow. (AP Photo/Ng Han Guan, File)
The Associated Press
BANGKOK — A study of factory supervisors in China reveals production contracted in December in the newest indication the world’s second-largest economy stays slow.
The authorities getting supervisors index, or PMI, fell to 49 last month in what authorities stated was proof of weak need, the National Bureau of Statistics reported on Sunday. It was the 3rd straight month of contraction. The PMI is on a scale up to 100 where 50 marks the cutoff inbetween growth and contraction.
The index hasactually fallen in 8 of the past 9 months, with an boost just in September. In November, the index was at 49.4, down from 49.5 the month inthepast.
Despite allofasudden extended weakpoint after the pandemic, China’s economy grew at a 5.2% rate in the veryfirst 3 quarters of the year and revealed indications of enhancement in November, with factory output and retail sales increasing.
In current months, the federalgovernment hasactually raised costs on buildingandconstruction of ports and other facilities, cut interest rates and relieved curbs on home-buying to shot to promote the domestic need that economicexperts state is required to sustain growt