Official China Manufacturing and Services PMIs were released from China on the weekend
The manufacturing PMI (official survey from China's National Bureau of Statistics/China Logistics Information Center) was 51.6 in December
- the expectation (i.e the consensus median via Bloomberg's survey of analysts) was 51.6 while November's result was 51.8
At 51.6, then, its still well into 'expansion' territory (above 50) but has dipped a little on the month. Cited amongst reasons for the slight shift down in speed are:
- crackdown on air pollution
- a cooling property market (property curbs impacting the broader economy)
- financial deleveraging (which impacts by pressuring higher interest rates and slowing credit growth)
This points cited will be ongoing 'themes' from China in coming months, along with further economic reforms that will be likely to weigh on otherwise solid growth.
The National Bureau of Statistics/China Logistics Information Center non-manufacturing PMI was 55.0 (against the 54.7 expected and from 54.8 in November)
Still to come this week, starting with today ... due at 0145 GMT ....
China - Caixin (i.e. the private survey) manufacturing PMI for December
- expected 50.7, prior 50.8
And, later in the week, due 0145 GMT on 4 January, the non-manufacturing and composite PMIs from Caixin , for December:
- Services expected 51.8, prior 51.9
- Composite, prior 51.6
