China’s manufacturing activity expanded for the first time since March, beating expectations, according to official data released Wednesday.
The official manufacturing purchasing managers index came in at 50.1 in December, above the 49.2 forecast by economists polled by Reuters, and higher than the 49.2 in November. A reading above 50 indicates expansion.
The composite PMI came in at 50.7, climbing from 49.7 in November, suggesting broader improvement across the economy.
China’s non-manufacturing PMI, which covers services and construction, increased to 50.2 from 49.5 in November.
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