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China's official manufacturing PMI dips to 51.0 in December

Last Updated: Wednesday, January 1, 2014 - 11:00

Beijing: Growth in China's factories slowed slightly in December with the official Purchasing Managers' Index (PMI) dipping to 51.0, but the figure confirmed views that the world's second-largest economy showed resilience at the end of the year.

Economists polled by Reuters had expected the official PMI, published by the National Bureau of Statistics, to ease to 51.2 from November's 51.4.

Most analysts believe the world's second-largest economy decelerated in the fourth quarter, hampered by slower credit growth, unsteady global demand for its exports and as companies slowed their rebuilding of inventories.

The 50-point mark in the PMI is the threshold separating an expansion in activity from a contraction.

First Published: Wednesday, January 1, 2014 - 11:00
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