A survey of factory managers in China shows that manufacturing contracted in December in the latest sign the world’s No. 2 economy remains sluggish.
The official purchasing managers index, or PMI, fell to 49 last month in what officials said was evidence of weak demand, the National Bureau of Statistics reported on Sunday. It was the third straight month of contraction. The PMI is on a scale up to 100 where 50 marks the cutoff between expansion and contraction.
