Manufacturing beats slightly at 50.3
- expected 50.1, prior 50.1
Non-manufacturing (services) comes in at a miss but above November at 52.7
- expected 53.1, prior 52.3
Composite 52.2
- prior 52.2
Given rolling outbreaks of coronavirus and the associated restrictions that China tends to impose quickly, these are reasonable results. All are in expansion.
China's Winter Olympics begin in about a month (on February 4). I do wonder if China will relax its zero-tolerance towards outbreaks (and thus the harsh restrictions) once these are over?
