China Dec official factory PMI dips to 51.6, hits forecasts

By Kitco News / December 30, 2017 / www.kitco.com / Article Link

BEIJING, Dec 31 (Reuters) - Growth in China's manufacturing sector slowed slightly in December as a crackdown on air pollution and a cooling property market weigh on the world's second-largest economy.

The official Purchasing Managers' Index (PMI) released on Sunday dipped to 51.6 in December, compared with 51.8 in November. But it remained comfortably above the 50-point mark that separates growth from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the reading would ease to 51.6 after unexpectedly picking up last month.

Boosted by government infrastructure spending, a resilient property market and unexpected strength in exports, China's manufacturing and industrial firms helped the economy post better-than-expected growth of 6.9 percent through the first nine months of this year.

But November economic data disappointed analysts, with industrial output, investment and the property market all backing expectations that growth momentum is starting to moderate.


(Reporting by Ben Blanchard; Editing by Kim Coghill)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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