Economy

HSBC China PMI eases in Dec as factory output stays strong

(Agencies)
Updated: 2010-12-30 14:05

BEIJING - HSBC's China Purchasing Managers' Index?(PMI) fell to a three-month low in December as output and new orders both eased, but the country's vast manufacturing sector continued to expand strongly towards the year-end, Reuters reported Thursday.

The index, which is designed to provide an early indication of conditions in a broad range of industries, dipped to 54.4 from 55.3 in November but remained above the long-run series average of 52.3, according to the report.

Related readings:  China's PMI at 7-month high, input prices jump  China Oct non-manufacturing sector PMI down  China's stocks up more than 2% on strong PMI

China's manufacturing sector growth in the fourth quarter as a whole was the strongest since the first quarter of 2010, it said.

A reading above 50 indicates expansion on the month, while?a figure below 50 denotes contraction, the report said.

The PMI also showed that inflationary pressure remained elevated in December, though had perhaps peaked, it added.