China’s Non-Manufacturing Sector Expands in December While Manufacturing Growth Slows

Official data shows services and construction sectors recovering, but manufacturing activity misses expectations as trade risks loom.

China's official non-manufacturing PMI rose to 52.2 in December, up from a neutral 50 in November, signaling growth in services and construction sectors.
The manufacturing PMI edged down to 50.1, marking the third consecutive month of expansion but falling short of analysts' expectations of 50.3.
Key growth sectors included telecommunications, financial services, and air transport, while resident services showed contraction compared to the previous month.
Stimulus measures have provided short-term support, but economists warn that structural challenges, including a prolonged property crisis, persist.
Trade risks are increasing with U.S. President-elect Donald Trump's tariff threats, adding uncertainty to China's export-dependent economy.