Good news for the global economy! 🌏 China's manufacturing sector is on a roll, expanding for the third month in a row this December. The latest Purchasing Managers' Index (PMI) reading is 50.1, according to the National Bureau of Statistics (NBS). What does that mean? Anything above 50 signals growth, and China's got it! 💪
But wait, there's more! The index for new orders climbed to 51, marking its fourth consecutive month of rise. This shows that both domestic and international demands are picking up. Even exports are stabilizing, with new export orders increasing for two months straight. Talk about ending the year on a high note! 🎉
The equipment manufacturing sector is shining bright, too. Its PMI stands at 50.6, staying in growth territory for five months now. Thanks to initiatives like the government's trade-in policy and the excitement of upcoming traditional festivals, consumer goods are also seeing a boost. 🛍️✨
Overall, the average PMI for the fourth quarter is 50.2, a solid jump from 49.4 in the third quarter. According to Liu Yuhang from the China Logistics Information Center, supply and demand are balancing out, and the economy's long-term improvement is on steady ground. Looks like China's gearing up for a prosperous new year! 🐲🌟
Reference(s):
cgtn.com
