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E-mail Xinhua, December 31, 2024
An aerial drone photo taken on Aug. 28, 2024 shows an interior view of the digital factory at a manufacturing enterprise in Yinchuan, northwest China's Ningxia Hui Autonomous Region. [Photo/Xinhua]
China's manufacturing sector continued to expand in December, official data showed Tuesday.
The purchasing managers' index (PMI) for the manufacturing sector was 50.1 in December, down from 50.3 in November but exceeding the boom-bust line of 50 for a third consecutive month, the National Bureau of Statistics (NBS) said.
NBS statistician Zhao Qinghe said the steady expansion of the PMI suggested that the combination of macroeconomic policies continued to take effect during the month and China's economic prosperity level continued to rebound and improve.
The data showed that the production and new orders sub-indices came in at 52.1 and 51, respectively. This indicates momentum in the sector's production and market demand.
Driven by the country's consumer goods trade-in program and the upcoming traditional holiday season, the PMI for the consumer goods sector came in at 51.4, up 0.6 points from the previous month, according to the NBS.
The PMI for the equipment manufacturing sector remained above 50 for a fifth straight month, with its December reading at 50.6.
A reading above 50 indicates expansion, while a reading below 50 reflects contraction.
