Monday, January 05, 2009

China's PMI grows to 41.2% in Dec

The Purchasing Managers' Index (PMI) in China's manufacturing sector rose to 41.2% in December, up 2.4% from the previous month, according to statistics from the China Federation of Logistics and Purchasing (CFLP).

Based on surveys directed at purchasing and supply managers of more than 700 manufacturers across the country, the PMI measures the monthly economic performance of the country.

The PMI has been below 50% for three consecutive months, which indicates an economic slowdown in the country.

According to the statistics, the index of new orders was 37.3% in December and the index of manufacturing stood at 39.4%, representing month-on-month increase of 5% and 3.9%, respectively.

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