China PMI data: Caixin Manufacturing PMI December 49.0 (previous 49.4)

I posted the official Chinese PMIs over the weekend:

• China official PMIs: Manufacturing 47.0 (vs. prior 48.0) & Services 41.6 (prior 46.7)

These are from China's National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

Now we have the privately surveyed manufacturing PMI from China. These are different surveys, there is a greater representation of large and SEO firms in the official PMIs.

Its dropped deeper into contraction at 49.0 from 49.4 in November.

• 5th month in a row in contraction
• lowest since September

China is experiencing a blowout wave of COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term infections with the rapid reopening moves. The wave will pass.

• The Business confidence measure in the survey improved to a 10-month high
• sub-index of future output surged to the highest since February

From the report:

• "Supply contracted, total demand remained weak, overseas demand shrank, employment deteriorated, logistics was sluggish, manufacturers faced growing pressure on their profitability, and the quantity of purchases as well as inventories stayed low," said Wang Zhe, senior economist at Caixin