China’s December PMIs Return to Expansion as Factories, Services Tick Up

Overview

• China’s official manufacturing PMI rose to 50.1 in December from 49.2 in November, a level that signals expansion.
• The official non-manufacturing PMI, covering services and construction, increased to 50.2 from 49.5.
• S&P Global/RatingDog’s manufacturing PMI printed 50.1 after 49.9 in November, corroborating the move back into growth.
• The private gauge marked its fourth improvement in five months, driven mainly by higher domestic new orders.
• Coverage described the rebound as unexpected and noted it bolsters Beijing’s effort to consolidate its 2025 growth goals.