China’s factory-activity growth slows as recovery remains bumpy, Caixin PMI shows

China’s factory activity grew in December, but at a slower-than-expected pace, as overall sales were dampened by falling export orders amid concerns over the trade outlook, a private-sector survey showed on Thursday. The Caixin/S&P Global manufacturing PMI nudged down to 50.5 in December from 51.

5 the previous month, undershooting analysts’ forecasts in a Reuters poll of 51.7. The rate of output expansion eased to a three-month low as growth in new orders slowed.



New export orders, in particular, returned to contractionary terrain, marking the fourth month of decline in the past five months. Subdued external economic conditions and threats of new US tariffs pose major risks for the world’s top exporter of goods. “The pulling forward of trade before anticipated 2025 tariffs has ended.

The only rescue in on-year terms is if Trump’s China-tariff talk is hot air,” China Beige Book said..