Overview
- China's official manufacturing PMI rose to 50.1 in December versus a 49.2 forecast, with non‑manufacturing at 50.2 and the composite at 50.7, marking a broad but modest pickup.
- The S&P Global/RatingDog China manufacturing PMI also printed 50.1, pointing to marginal improvement driven by domestic orders while export demand softened.
- Chinese manufacturers reported rising input costs and a second straight month of job cuts, even as many reduced selling prices to support sales and clear inventories.
- Russia's manufacturing PMI fell to 48.1, the sharpest contraction since March 2022, with production down for a tenth month and new sales lower for a seventh month.
- Russia's services PMI rose to 52.3, the fastest since January, yet the composite held at 50.0 as factory weakness offset services growth and firms reported slower cost increases.