Economic Buzz: China Caixin Services PMI Improves in December

6 Jan 2022 , 12:02 PM

China Caixin Services PMI increased to 53.1 in December 2021 from 52.1 in the prior month, marking the fourth straight month of expansion. Output has now increased in each of the past four months, with the latest rise solid overall. Companies that registered higher activity levels often mentioned that improved market conditions, new product releases and higher sales had supported growth. New orders expanded at a faster pace despite fears over COVID-19 flare-ups, while export orders were stable. At the same time, employment rose for the fourth month in a row and was the fastest increase since May. Meanwhile, output prices inflation slowed to a four-month low. Looking forward, business sentiment weakened to a 15-month low, which was remarkably lower than the long-term average, due to worries uncertainty over the pandemic.

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